Merrion Investment Management Co LLC Increases Stock Holdings in MGM Resorts International (NYSE:MGM)

Merrion Investment Management Co LLC boosted its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 53.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,390 shares of the company's stock after buying an additional 40,700 shares during the quarter. MGM Resorts International makes up approximately 2.5% of Merrion Investment Management Co LLC's portfolio, making the stock its 7th biggest position. Merrion Investment Management Co LLC's holdings in MGM Resorts International were worth $3,479,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MGM. TD Waterhouse Canada Inc. boosted its holdings in MGM Resorts International by 8.9% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,190 shares of the company's stock valued at $111,000 after acquiring an additional 261 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in MGM Resorts International by 1.7% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company's stock valued at $684,000 after acquiring an additional 333 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in MGM Resorts International by 47.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock valued at $43,000 after acquiring an additional 404 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in MGM Resorts International by 1.6% in the first quarter. State of Alaska Department of Revenue now owns 26,210 shares of the company's stock valued at $776,000 after acquiring an additional 410 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in MGM Resorts International by 104.1% in the fourth quarter. Assetmark Inc. now owns 806 shares of the company's stock valued at $28,000 after acquiring an additional 411 shares during the last quarter. Institutional investors own 68.11% of the company's stock.

MGM Resorts International Stock Down 0.5%

Shares of MGM Resorts International stock traded down $0.16 on Friday, hitting $33.78. The company had a trading volume of 11,128,278 shares, compared to its average volume of 4,900,978. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 2.33 and a beta of 1.76. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.26 and a current ratio of 1.31. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $47.26. The stock has a 50 day moving average of $32.02 and a 200-day moving average of $32.91.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.19. The business had revenue of $4.28 billion for the quarter, compared to analysts' expectations of $4.29 billion. MGM Resorts International had a return on equity of 20.64% and a net margin of 3.95%. The business's revenue was down 2.4% on a year-over-year basis. During the same period last year, the business earned $0.74 EPS. As a group, sell-side analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current year.

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

Insider Activity

In other MGM Resorts International news, COO Corey Ian Sanders sold 40,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $34.43, for a total value of $1,377,200.00. Following the completion of the transaction, the chief operating officer now owns 281,530 shares in the company, valued at $9,693,077.90. This represents a 12.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel J. Taylor sold 5,261 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $34.93, for a total value of $183,766.73. The disclosure for this sale can be found here. Insiders sold a total of 105,261 shares of company stock worth $3,486,367 over the last quarter. Insiders own 3.06% of the company's stock.

Analyst Ratings Changes

MGM has been the topic of several analyst reports. Susquehanna upped their target price on MGM Resorts International from $45.00 to $50.00 and gave the company a "positive" rating in a report on Thursday, May 1st. JMP Securities reduced their price objective on shares of MGM Resorts International from $50.00 to $45.00 and set a "market outperform" rating for the company in a research report on Thursday, April 17th. Barclays boosted their target price on shares of MGM Resorts International from $41.00 to $43.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Stifel Nicolaus reduced their price target on shares of MGM Resorts International from $50.00 to $44.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Wall Street Zen raised shares of MGM Resorts International from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $48.94.

MGM Resorts International Company 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.