Farringdon Capital Ltd. Buys Shares of 19,955 MGM Resorts International (NYSE:MGM)

Farringdon Capital Ltd. purchased a new position in MGM Resorts International (NYSE:MGM) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 19,955 shares of the company’s stock, valued at approximately $691,000.

Other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in MGM Resorts International by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock worth $79,110,000 after acquiring an additional 38,749 shares during the period. Korea Investment CORP grew 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 worth $5,034,000 after purchasing an additional 131,636 shares during the last quarter. ACR Alpine Capital Research LLC increased its holdings in shares of MGM Resorts International by 23.3% during 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 raised its position in shares of MGM Resorts International by 4.6% during the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after buying an additional 882,417 shares during the last quarter. Finally, Miracle Mile Advisors LLC acquired a new position in shares of MGM Resorts International during the fourth quarter valued at about $2,010,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Jonathan S. Halkyard bought 10,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $32.17 per share, with a total value of $321,700.00. Following the purchase, the chief financial officer now owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

MGM Resorts International Trading Down 4.0 %

MGM stock opened at $28.51 on Thursday. 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 capitalization of $8.07 billion, a price-to-earnings ratio of 11.88, a P/E/G ratio of 0.98 and a beta of 1.96. The business has a fifty day moving average price of $32.34 and a 200 day moving average price of $35.07. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $47.26.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (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%. Analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Analyst Ratings Changes

MGM has been the topic of several research reports. Stifel Nicolaus boosted their price target 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. Capital One Financial boosted their price objective on MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Susquehanna Bancshares upped their target price on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Jefferies Financial Group decreased their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Finally, Leerink Partners cut shares of MGM Resorts International to a “market perform” rating in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average price target of $51.00.

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.