Susquehanna Fundamental Investments LLC Purchases Shares of 360,863 MGM Resorts International (NYSE:MGM)

Susquehanna Fundamental Investments LLC acquired a new position in shares of MGM Resorts International (NYSE:MGM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 360,863 shares of the company's stock, valued at approximately $12,504,000. Susquehanna Fundamental Investments LLC owned 0.12% of MGM Resorts International as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its holdings in shares of MGM Resorts International by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company's stock valued at $79,110,000 after buying an additional 38,749 shares during the period. Korea Investment CORP lifted its position in MGM Resorts International by 964.3% in the 4th quarter. Korea Investment CORP now owns 145,287 shares of the company's stock valued at $5,034,000 after acquiring an additional 131,636 shares in the last quarter. ACR Alpine Capital Research LLC boosted its stake in MGM Resorts International by 23.3% in the 4th quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company's stock worth $5,613,000 after purchasing an additional 30,605 shares during the period. Davis Selected Advisers increased its holdings in MGM Resorts International by 4.6% during the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock worth $690,253,000 after purchasing an additional 882,417 shares in the last quarter. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of MGM Resorts International in the 4th quarter valued at about $2,010,000. Institutional investors and hedge funds own 68.11% of the company's stock.

Insider Buying and Selling at MGM Resorts International

In other news, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the purchase, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MGM. Jefferies Financial Group decreased their price objective on MGM Resorts International from $52.00 to $50.00 and set a "buy" rating for the company in a report on Friday, January 3rd. JMP Securities cut their price objective on shares of 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. Wedbush reaffirmed an "outperform" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Susquehanna Bancshares increased their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Finally, Macquarie reaffirmed an "outperform" rating and issued a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, MGM Resorts International presently has an average rating of "Moderate Buy" and an average target price of $49.53.

MGM Resorts International Stock Performance

NYSE:MGM traded down $0.57 during mid-day trading on Thursday, hitting $30.89. 10,705,530 shares of the stock were exchanged, compared to its average volume of 5,794,313. The firm's 50-day simple moving average is $30.99 and its 200 day simple moving average is $34.44. The stock has a market capitalization of $8.74 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two 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 earnings results on Wednesday, April 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $4.28 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the previous year, the business posted $0.74 earnings per share. MGM Resorts International's quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities 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 buyback plan on Wednesday, April 30th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 22.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

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.