MGM Resorts International (NYSE:MGM) Shares Purchased by AQR Capital Management LLC

AQR Capital Management LLC grew its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 12,726.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,278,965 shares of the company's stock after acquiring an additional 1,268,994 shares during the quarter. AQR Capital Management LLC owned about 0.43% of MGM Resorts International worth $44,316,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of MGM Resorts International in the 3rd quarter worth approximately $641,000. Wilmington Savings Fund Society FSB bought a new position in MGM Resorts International in the third quarter worth approximately $55,000. Tidal Investments LLC boosted its stake in shares of MGM Resorts International by 269.7% during the 3rd quarter. Tidal Investments LLC now owns 33,050 shares of the company's stock worth $1,292,000 after acquiring an additional 24,111 shares during the last quarter. Synovus Financial Corp bought a new stake in shares of MGM Resorts International during the 3rd quarter valued at $309,000. Finally, Modus Advisors LLC purchased a new stake in shares of MGM Resorts International in the 4th quarter worth $46,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Stock Down 2.0 %

NYSE MGM traded down $0.65 on Tuesday, reaching $31.42. 5,193,503 shares of the stock traded hands, compared to its average volume of 4,692,671. The company has a market cap of $8.55 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 0.98 and a beta of 1.78. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $47.26. The company has a fifty day moving average price of $30.75 and a 200-day moving average price of $34.18.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.19. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. MGM Resorts International's revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, research analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

MGM Resorts International announced that its board has approved a share buyback plan on Wednesday, April 30th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to repurchase up to 22.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wedbush reaffirmed an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Capital One Financial upped their price target on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Leerink Partners cut shares of MGM Resorts International to a "market perform" rating in a research note on Thursday, February 13th. Susquehanna Bancshares increased their price target on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Finally, Barclays boosted their price objective on MGM Resorts International from $41.00 to $43.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $48.94.

Insider Buying and Selling

In other MGM Resorts International news, CFO Jonathan S. Halkyard bought 10,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the purchase, the chief financial officer now directly owns 75,648 shares in the company, valued at $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares of the company's stock, valued at approximately $692,509.84. This represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. 3.06% of the stock is currently owned by company insiders.

MGM Resorts International Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.