Tower Research Capital LLC TRC Purchases 12,108 Shares of MGM Resorts International (NYSE:MGM)

Tower Research Capital LLC TRC raised its stake in MGM Resorts International (NYSE:MGM - Free Report) by 127.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,613 shares of the company's stock after purchasing an additional 12,108 shares during the period. Tower Research Capital LLC TRC's holdings in MGM Resorts International were worth $749,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of MGM. MML Investors Services LLC increased its position in shares of MGM Resorts International by 3.0% during the fourth quarter. MML Investors Services LLC now owns 43,891 shares of the company's stock valued at $1,521,000 after purchasing an additional 1,263 shares during the period. MYDA Advisors LLC raised its stake in shares of MGM Resorts International by 18.2% in the 4th quarter. MYDA Advisors LLC now owns 260,000 shares of the company's stock valued at $9,009,000 after buying an additional 40,000 shares in the last quarter. Norinchukin Bank The lifted its holdings in shares of MGM Resorts International by 9.6% during the 4th quarter. Norinchukin Bank The now owns 10,681 shares of the company's stock worth $370,000 after acquiring an additional 939 shares during the period. Ossiam boosted its position in shares of MGM Resorts International by 29.8% during the 4th quarter. Ossiam now owns 40,338 shares of the company's stock valued at $1,398,000 after acquiring an additional 9,268 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in MGM Resorts International in the fourth quarter valued at about $1,068,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on MGM. Jefferies Financial Group decreased their price objective on MGM Resorts International from $52.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, January 3rd. BTIG Research lowered MGM Resorts International from a "buy" rating to a "neutral" rating in a research note on Monday, February 3rd. Wells Fargo & Company lifted their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Needham & Company LLC reiterated a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, 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, April 22nd. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International has a consensus rating of "Moderate Buy" and an average target price of $50.06.

MGM Resorts International Trading Down 0.9 %

Shares of NYSE MGM traded down $0.30 during mid-day trading on Wednesday, hitting $31.50. The company's stock had a trading volume of 6,414,961 shares, compared to its average volume of 4,684,933. 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 stock has a market cap of $8.91 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. The company's fifty day simple moving average is $31.08 and its 200-day simple moving average is $34.46. MGM Resorts International has a one year low of $25.30 and a one year high of $47.26.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.16. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, sell-side analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In related 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 value of $227,040.00. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price of $32.17 per share, with a total value of $321,700.00. Following the acquisition, the chief financial officer now owns 75,648 shares of the company's stock, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. 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.