MGM Resorts International (NYSE:MGM) Stock Holdings Lowered by Graham Capital Management L.P.

Graham Capital Management L.P. decreased its position in MGM Resorts International (NYSE:MGM - Free Report) by 9.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,448 shares of the company's stock after selling 8,220 shares during the quarter. Graham Capital Management L.P.'s holdings in MGM Resorts International were worth $2,718,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Davis Selected Advisers increased its stake in shares of 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. Invesco Ltd. boosted its position in MGM Resorts International by 22.5% during the fourth quarter. Invesco Ltd. now owns 5,785,343 shares of the company's stock valued at $200,462,000 after purchasing an additional 1,063,707 shares during the last quarter. Marshall Wace LLP increased its stake in shares of 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 during the last quarter. Norges Bank bought a new position in MGM Resorts International during the fourth quarter worth $88,033,000. Finally, Northern Trust Corp increased its position in MGM Resorts International by 15.1% during the fourth quarter. Northern Trust Corp now owns 2,315,748 shares of the company's stock worth $80,241,000 after acquiring an additional 303,711 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Needham & Company LLC restated a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Wells Fargo & Company increased their target price on MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Stifel Nicolaus decreased their price target 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. BTIG Research downgraded shares of MGM Resorts International from a "buy" rating to a "neutral" rating in a report on Monday, February 3rd. Finally, Capital One Financial boosted their price objective on MGM Resorts International from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $48.94.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This represents a 24.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were acquired at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the acquisition, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at approximately $2,433,596.16. The trade was a 15.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 51,261 shares of company stock valued at $1,788,007 in the last three months. 3.06% of the stock is currently owned by company insiders.

MGM Resorts International Stock Performance

Shares of NYSE MGM traded down $0.41 during midday trading on Friday, reaching $33.99. The company had a trading volume of 1,720,924 shares, compared to its average volume of 4,729,879. The business's 50-day simple moving average is $30.81 and its 200 day simple moving average is $33.87. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $47.26. The stock has a market cap of $9.25 billion, a P/E ratio of 14.17, a P/E/G ratio of 0.98 and a beta of 1.78. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.69 EPS for the quarter, beating the consensus estimate 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 business 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 company's quarterly revenue was down 2.4% on a year-over-year basis. On average, analysts forecast 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 initiated 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 shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is 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.