107,220 Shares in MGM Resorts International (NYSE:MGM) Purchased by Neo Ivy Capital Management

Neo Ivy Capital Management purchased a new stake in shares of MGM Resorts International (NYSE:MGM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 107,220 shares of the company's stock, valued at approximately $3,715,000.

A number of other institutional investors have also modified their holdings of MGM. Merit Financial Group LLC purchased a new position in MGM Resorts International during the 4th quarter worth $243,000. Ballentine Partners LLC raised its stake in MGM Resorts International by 5.4% in the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company's stock valued at $227,000 after buying an additional 333 shares during the last quarter. Global Trust Asset Management LLC acquired a new stake in MGM Resorts International in the fourth quarter worth about $28,000. Regatta Capital Group LLC grew its stake in shares of MGM Resorts International by 5.8% during the fourth quarter. Regatta Capital Group LLC now owns 18,617 shares of the company's stock worth $645,000 after acquiring an additional 1,025 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of MGM Resorts International during the fourth quarter valued at about $175,000. 68.11% of the stock is currently owned by institutional investors.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Daniel J. Taylor sold 5,261 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the transaction, the chief financial officer now owns 75,648 shares of the company's stock, valued at approximately $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. Corporate insiders own 3.06% of the company's stock.

MGM Resorts International Price Performance

MGM stock remained flat at $31.99 during midday trading on Wednesday. 1,013,953 shares of the company traded hands, compared to its average volume of 4,753,022. The company's fifty day moving average is $30.90 and its two-hundred day moving average is $33.53. The firm has a market capitalization of $8.71 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 0.98 and a beta of 1.78. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $47.26. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.29 billion. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. MGM Resorts International's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.74 EPS. On average, research analysts predict that MGM Resorts International will post 2.21 earnings per share for the current year.

MGM Resorts International declared that its board has approved a stock buyback plan on Wednesday, April 30th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 22.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have weighed in on MGM shares. Capital One Financial boosted their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Susquehanna Bancshares lifted their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. JMP Securities cut their target price on MGM Resorts International from $50.00 to $45.00 and set a "market outperform" rating on the stock in a research report on Thursday, April 17th. Stifel Nicolaus reduced their target price on MGM Resorts International from $50.00 to $44.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Barclays lifted their price target on MGM Resorts International from $41.00 to $43.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.94.

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.