Worldquant Millennium Advisors LLC Purchases Shares of 95,627 MGM Resorts International (NYSE:MGM)

Worldquant Millennium Advisors LLC acquired a new position in shares of MGM Resorts International (NYSE:MGM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 95,627 shares of the company's stock, valued at approximately $3,313,000.

Several other large investors have also recently bought and sold shares of MGM. ArrowMark Colorado Holdings LLC grew its stake in shares of MGM Resorts International by 42.8% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 937,175 shares of the company's stock worth $32,473,000 after purchasing an additional 280,700 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in MGM Resorts International by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company's stock worth $79,110,000 after buying an additional 38,749 shares in the last quarter. Korea Investment CORP grew its position in MGM Resorts International by 964.3% during the fourth quarter. Korea Investment CORP now owns 145,287 shares of the company's stock worth $5,034,000 after buying an additional 131,636 shares during the period. ACR Alpine Capital Research LLC increased its holdings in MGM Resorts International by 23.3% in the fourth quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company's stock valued at $5,613,000 after buying an additional 30,605 shares in the last quarter. Finally, Davis Selected Advisers increased its holdings in MGM Resorts International by 4.6% in the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock valued at $690,253,000 after buying an additional 882,417 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Daniel J. Taylor sold 5,261 shares of MGM Resorts International stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $34.93, for a total value of $183,766.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the acquisition, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MGM. Canaccord Genuity Group reissued a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Wells Fargo & Company boosted their target price on MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Wedbush restated an "outperform" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Leerink Partners downgraded MGM Resorts International to a "market perform" rating in a research note on Thursday, February 13th. Finally, Morgan Stanley lowered their price objective on shares of MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $48.94.

MGM Resorts International Trading Up 0.1%

Shares of MGM traded up $0.02 on Monday, hitting $31.37. 2,979,621 shares of the stock traded hands, compared to its average volume of 4,770,523. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $47.26. The stock's 50 day moving average is $30.94 and its two-hundred day moving average is $33.58. The firm has a market capitalization of $8.54 billion, a P/E ratio of 13.07, a P/E/G ratio of 0.98 and a beta of 1.78. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.

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

MGM Resorts International declared that its Board of Directors has authorized a share buyback plan on Wednesday, April 30th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 22.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

About MGM Resorts International

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.