MYDA Advisors LLC Buys 40,000 Shares of MGM Resorts International (NYSE:MGM)

MYDA Advisors LLC grew its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 18.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 260,000 shares of the company's stock after buying an additional 40,000 shares during the quarter. MGM Resorts International accounts for approximately 2.3% of MYDA Advisors LLC's investment portfolio, making the stock its 13th biggest holding. MYDA Advisors LLC owned 0.09% of MGM Resorts International worth $9,009,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Virtu Financial LLC bought a new stake in MGM Resorts International during the 3rd quarter valued at $641,000. Wilmington Savings Fund Society FSB bought a new position in MGM Resorts International in the 3rd quarter worth about $55,000. Tidal Investments LLC increased its position in shares of MGM Resorts International by 269.7% during the third quarter. Tidal Investments LLC now owns 33,050 shares of the company's stock valued at $1,292,000 after buying an additional 24,111 shares during the period. Synovus Financial Corp bought a new position in shares of MGM Resorts International in the third quarter valued at approximately $309,000. Finally, Oddo BHF Asset Management Sas bought a new stake in MGM Resorts International during the 3rd quarter worth approximately $1,886,000. Hedge funds and other institutional investors own 68.11% of the company's stock.

MGM Resorts International Stock Performance

NYSE MGM traded up $0.07 during trading hours on Friday, hitting $31.49. The company's stock had a trading volume of 2,794,585 shares, compared to its average volume of 4,660,516. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $47.26. The company's 50 day simple moving average is $31.46 and its two-hundred day simple moving average is $34.66. 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 cap of $8.91 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, sell-side analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the sale, the chief accounting officer now directly owns 18,301 shares of the company's stock, valued at $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average price of $32.17 per share, with a total value of $321,700.00. Following the transaction, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at $2,433,596.16. This represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MGM shares. Canaccord Genuity Group restated a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Stifel Nicolaus increased their target price on MGM Resorts International from $47.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Barclays reduced their price target on shares of MGM Resorts International from $47.00 to $41.00 and set an "overweight" rating on the stock in a research report on Tuesday. Mizuho lifted their price target on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Finally, Citigroup upped their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $50.06.

MGM Resorts International Company 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.