SG Americas Securities LLC Buys 237,370 Shares of MGM Resorts International (NYSE:MGM)

SG Americas Securities LLC increased its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 6,176.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 241,213 shares of the company's stock after buying an additional 237,370 shares during the quarter. SG Americas Securities LLC owned about 0.09% of MGM Resorts International worth $7,150,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in MGM Resorts International during the 4th quarter worth approximately $88,033,000. Eminence Capital LP bought a new stake in MGM Resorts International during the 4th quarter worth approximately $72,408,000. AQR Capital Management LLC increased its holdings in MGM Resorts International by 12,726.8% during the 4th quarter. AQR Capital Management LLC now owns 1,278,965 shares of the company's stock worth $44,316,000 after purchasing an additional 1,268,994 shares in the last quarter. Marshall Wace LLP increased its holdings in MGM Resorts International by 50.9% during the 4th quarter. Marshall Wace LLP now owns 3,233,718 shares of the company's stock worth $112,048,000 after purchasing an additional 1,090,533 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in MGM Resorts International by 22.5% during the 4th quarter. Invesco Ltd. now owns 5,785,343 shares of the company's stock worth $200,462,000 after purchasing an additional 1,063,707 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MGM. Stifel Nicolaus decreased their price objective on MGM Resorts International from $50.00 to $44.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Morgan Stanley reduced their target price on MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Argus raised MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a report on Friday, February 14th. Barclays upped their target price on MGM Resorts International from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, Truist Financial reduced their target price on MGM Resorts International from $50.00 to $45.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $48.94.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 60,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $32.09, for a total value of $1,925,400.00. Following the completion of the sale, the director now owns 5,627,478 shares of the company's stock, valued at approximately $180,585,769.02. The trade was a 1.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Corey Ian Sanders sold 40,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $34.43, for a total transaction of $1,377,200.00. Following the sale, the chief operating officer now directly owns 281,530 shares of the company's stock, valued at approximately $9,693,077.90. The trade was a 12.44% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,261 shares of company stock valued at $3,486,367. 3.06% of the stock is currently owned by corporate insiders.

MGM Resorts International Price Performance

Shares of MGM stock traded down $1.46 on Friday, reaching $31.68. The company's stock had a trading volume of 5,966,448 shares, compared to its average volume of 4,842,434. 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 has a 12-month low of $25.30 and a 12-month high of $47.26. The company has a market capitalization of $8.62 billion, a P/E ratio of 13.20, a PEG ratio of 0.98 and a beta of 1.76. The stock's 50 day simple moving average is $31.50 and its 200-day simple moving average is $33.08.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.19. The firm 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 21.08% and a net margin of 4.33%. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share. As a group, equities analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

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

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.