Vima LLC Takes Position in MGM Resorts International (NYSE:MGM)

Vima LLC acquired a new stake in shares of MGM Resorts International (NYSE:MGM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,109 shares of the company’s stock, valued at approximately $273,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Lazari Capital Management Inc. bought a new position in shares of MGM Resorts International during the fourth quarter valued at about $237,000. Centaurus Financial Inc. purchased a new stake in shares of MGM Resorts International during the fourth quarter worth about $111,000. Virtu Financial LLC boosted its holdings in shares of MGM Resorts International by 42.0% during the fourth quarter. Virtu Financial LLC now owns 21,687 shares of the company’s stock worth $969,000 after purchasing an additional 6,413 shares during the period. V Square Quantitative Management LLC boosted its holdings in shares of MGM Resorts International by 228.5% during the fourth quarter. V Square Quantitative Management LLC now owns 15,100 shares of the company’s stock worth $675,000 after purchasing an additional 10,504 shares during the period. Finally, Power Corp of Canada purchased a new stake in shares of MGM Resorts International during the fourth quarter worth about $340,000. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Price Performance

MGM Resorts International stock traded down $0.68 during mid-day trading on Friday, hitting $39.85. The stock had a trading volume of 2,680,903 shares, compared to its average volume of 3,329,645. The firm has a market capitalization of $12.50 billion, a P/E ratio of 15.33, a P/E/G ratio of 0.87 and a beta of 2.24. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56. The firm’s 50 day moving average is $41.21 and its 200 day moving average is $42.80. MGM Resorts International has a one year low of $34.12 and a one year high of $51.35.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The company had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the firm posted $0.44 EPS. MGM Resorts International’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, sell-side analysts forecast that MGM Resorts International will post 2.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MGM has been the subject of a number of recent analyst reports. JMP Securities boosted their price objective on shares of MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a report on Monday, May 6th. Mizuho boosted their target price on shares of MGM Resorts International from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Morgan Stanley boosted their target price on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Barclays boosted their target price on shares of MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Susquehanna upgraded shares of MGM Resorts International from a “neutral” rating to a “positive” rating and boosted their target price for the company from $46.00 to $54.00 in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Alexis Herman sold 4,344 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $41.50, for a total transaction of $180,276.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Alexis Herman sold 4,344 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $41.50, for a total transaction of $180,276.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the sale, the director now owns 5,859,478 shares in the company, valued at $236,957,290.32. The disclosure for this sale can be found here. Insiders sold 147,988 shares of company stock valued at $5,991,759 in the last 90 days. Insiders own 2.13% of the company’s stock.

About MGM Resorts International

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.