Jump Financial LLC Sells 153,442 Shares of MGM Resorts International (NYSE:MGM)

Jump Financial LLC cut its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 86.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,706 shares of the company's stock after selling 153,442 shares during the period. Jump Financial LLC's holdings in MGM Resorts International were worth $856,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bridgewater Associates LP increased its position in shares of MGM Resorts International by 3.7% during the 4th quarter. Bridgewater Associates LP now owns 419,332 shares of the company's stock valued at $14,530,000 after purchasing an additional 15,119 shares during the last quarter. Guggenheim Capital LLC increased its holdings in MGM Resorts International by 55.9% during the fourth quarter. Guggenheim Capital LLC now owns 15,256 shares of the company's stock worth $529,000 after buying an additional 5,468 shares during the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in MGM Resorts International in the fourth quarter worth about $91,000. XTX Topco Ltd purchased a new position in MGM Resorts International in the fourth quarter valued at about $840,000. Finally, Investment Counsel Co. of Nevada bought a new position in shares of MGM Resorts International during the 4th quarter valued at approximately $54,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the 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 in the company, valued at $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the acquisition, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. The trade was a 15.23 % increase in their position. The disclosure for this purchase can be found here. 3.06% of the stock is currently owned by insiders.

MGM Resorts International Price Performance

MGM stock traded up $0.27 during midday trading on Friday, reaching $31.69. The company had a trading volume of 4,627,649 shares, compared to its average volume of 4,673,290. The firm has a 50-day moving average price of $31.33 and a 200-day moving average price of $34.53. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The company has a market capitalization of $8.97 billion, a P/E ratio of 13.20, a P/E/G ratio of 0.98 and a beta of 1.96. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $47.26.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. On average, research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on MGM. Morgan Stanley dropped their price objective on MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Susquehanna Bancshares increased their price target on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Needham & Company LLC reissued a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Capital One Financial upped their price objective on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Finally, Truist Financial reduced their target price on shares of MGM Resorts International from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $50.06.

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.