ACR Alpine Capital Research LLC Buys 11,231 Shares of MGM Resorts International (NYSE:MGM)

ACR Alpine Capital Research LLC raised its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 6.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 173,221 shares of the company's stock after acquiring an additional 11,231 shares during the quarter. MGM Resorts International comprises 0.1% of ACR Alpine Capital Research LLC's portfolio, making the stock its 22nd largest position. ACR Alpine Capital Research LLC owned approximately 0.06% of MGM Resorts International worth $5,134,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Virtu Financial LLC boosted its position in shares of MGM Resorts International by 5.0% during the fourth quarter. Virtu Financial LLC now owns 17,215 shares of the company's stock worth $596,000 after purchasing an additional 814 shares in the last quarter. American Century Companies Inc. boosted its position in shares of MGM Resorts International by 1.9% during the fourth quarter. American Century Companies Inc. now owns 38,941 shares of the company's stock worth $1,349,000 after purchasing an additional 708 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of MGM Resorts International during the fourth quarter worth $275,000. Banco BTG Pactual S.A. acquired a new stake in shares of MGM Resorts International during the fourth quarter worth $599,000. Finally, Korea Investment CORP raised its holdings in shares of 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 acquiring an additional 131,636 shares during the period. 68.11% of the stock is owned by institutional investors.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 60,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $32.09, for a total transaction of $1,925,400.00. Following the completion of the sale, the director owned 5,627,478 shares of the company's stock, valued at approximately $180,585,769.02. This represents a 1.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel J. Taylor sold 5,261 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $34.93, for a total transaction of $183,766.73. The disclosure for this sale can be found here. Insiders sold 105,261 shares of company stock valued at $3,486,367 in the last quarter. Company insiders own 3.06% of the company's stock.

MGM Resorts International Stock Performance

Shares of MGM stock traded up $1.08 during midday trading on Friday, hitting $38.44. 4,078,614 shares of the company were exchanged, compared to its average volume of 4,064,193. The firm has a market capitalization of $10.46 billion, a P/E ratio of 17.16, a PEG ratio of 2.48 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. The firm's 50 day moving average price is $34.62 and its two-hundred day moving average price is $33.24. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $43.99.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.50 by $0.19. The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.29 billion. MGM Resorts International had a net margin of 3.95% and a return on equity of 20.64%. MGM Resorts International's revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.74 EPS. As a group, equities research analysts anticipate 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 authorized a share buyback program on Wednesday, April 30th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 22.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

MGM has been the topic of a number of research analyst reports. UBS Group raised their price objective on shares of MGM Resorts International from $37.00 to $42.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Barclays raised their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Seaport Res Ptn lowered shares of MGM Resorts International from a "strong-buy" rating to a "hold" rating in a report on Monday, July 21st. JPMorgan Chase & Co. initiated coverage on shares of MGM Resorts International in a report on Monday, June 23rd. They set a "neutral" rating and a $38.00 price objective on the stock. Finally, Susquehanna raised their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a "positive" rating in a report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MGM Resorts International presently has an average rating of "Moderate Buy" and a consensus price target of $48.00.

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.