Hudson Bay Capital Management LP Sells 78,507 Shares of MGM Resorts International (NYSE:MGM)

Hudson Bay Capital Management LP lessened its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 42.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 107,493 shares of the company's stock after selling 78,507 shares during the quarter. Hudson Bay Capital Management LP's holdings in MGM Resorts International were worth $3,725,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in MGM. Assetmark Inc. grew its holdings in MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after acquiring an additional 411 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in MGM Resorts International in the 4th quarter worth $28,000. Global Retirement Partners LLC grew its holdings in MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after acquiring an additional 404 shares during the last quarter. Quarry LP grew its holdings in MGM Resorts International by 750.6% in the 4th quarter. Quarry LP now owns 1,446 shares of the company's stock worth $50,000 after acquiring an additional 1,276 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in MGM Resorts International by 74.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company's stock worth $51,000 after acquiring an additional 633 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

MGM Resorts International Stock Down 1.3%

MGM Resorts International stock traded down $0.43 during trading hours on Friday, hitting $33.96. The stock had a trading volume of 4,680,480 shares, compared to its average volume of 4,741,367. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $9.24 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 0.98 and a beta of 1.78. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $47.26. The stock's 50-day moving average price is $30.81 and its 200-day moving average price is $33.87.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.19. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. The business had revenue of $4.28 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The business's revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts anticipate that MGM Resorts International will post 2.21 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on MGM shares. Morgan Stanley cut their price target on shares of MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Macquarie cut their target price on shares of MGM Resorts International from $50.00 to $48.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Argus raised shares of MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research note on Friday, February 14th. BTIG Research lowered shares of MGM Resorts International from a "buy" rating to a "neutral" rating in a research note on Monday, February 3rd. Finally, Leerink Partners lowered shares of MGM Resorts International to a "market perform" rating in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $48.94.

Insider Activity

In other news, Director Daniel J. Taylor sold 5,261 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $34.93, for a total transaction of $183,766.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares of the company's stock, valued at $692,509.84. The trade was a 24.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,261 shares of company stock valued at $1,788,007 over the last three months. Insiders own 3.06% of the company's stock.

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.