MGM Resorts International (NYSE:MGM) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,357,152 shares of the company's stock after selling 19,454 shares during the period. Dimensional Fund Advisors LP owned 0.79% of MGM Resorts International worth $81,672,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth about $641,000. Wilmington Savings Fund Society FSB acquired a new stake in MGM Resorts International during the third quarter worth approximately $55,000. Tidal Investments LLC lifted its position 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 buying an additional 24,111 shares during the last quarter. Synovus Financial Corp acquired a new position in shares of MGM Resorts International in the 3rd quarter valued at $309,000. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of MGM Resorts International in the 3rd quarter valued at $1,886,000. Hedge funds and other institutional investors own 68.11% of the company's stock.

MGM Resorts International Price Performance

Shares of NYSE:MGM traded up $1.10 during midday trading on Friday, hitting $31.96. 7,299,842 shares of the stock were exchanged, compared to its average volume of 4,693,186. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The company has a 50 day moving average price of $30.81 and a 200-day moving average price of $34.33. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $47.26. The stock has a market cap of $9.04 billion, a P/E ratio of 13.32, a PEG ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $4.29 billion. During the same period last year, the company earned $0.74 EPS. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. On average, research analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current year.

MGM Resorts International announced that its board has authorized a stock repurchase program on Wednesday, April 30th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 22.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Insider Activity at MGM Resorts International

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

Analyst Ratings Changes

Several research firms have issued reports on MGM. Wedbush restated an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Susquehanna Bancshares lifted their price target on MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Leerink Partners cut shares of MGM Resorts International to a "market perform" rating in a report on Thursday, February 13th. Capital One Financial increased 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 note on Wednesday, February 12th. Finally, Jefferies Financial Group dropped their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $49.41.

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.