Investors Purchase High Volume of MGM Resorts International Call Options (NYSE:MGM)

MGM Resorts International (NYSE:MGM) was the target of unusually large options trading on Thursday. Investors purchased 12,973 call options on the stock. This is an increase of 20% compared to the typical daily volume of 10,801 call options.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $40.44, for a total value of $5,633,292.00. Following the transaction, the director now directly owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Alexis Herman sold 4,344 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $41.50, for a total value of $180,276.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Keith A. Meister sold 139,300 shares of MGM Resorts International stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $40.44, for a total value of $5,633,292.00. Following the sale, the director now directly owns 5,859,478 shares in the company, valued at approximately $236,957,290.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,988 shares of company stock valued at $5,991,759. Insiders own 2.83% of the company’s stock.

Institutional Trading of MGM Resorts International

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after buying an additional 329 shares during the period. Boston Partners lifted its holdings in shares of MGM Resorts International by 12.6% in the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after buying an additional 684,676 shares during the period. Goldentree Asset Management LP acquired a new position in shares of MGM Resorts International in the 1st quarter valued at about $35,726,000. Cetera Advisors LLC lifted its holdings in shares of MGM Resorts International by 211.3% in the 1st quarter. Cetera Advisors LLC now owns 31,679 shares of the company’s stock valued at $1,496,000 after buying an additional 21,503 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of MGM Resorts International by 78.5% in the 1st quarter. Cetera Investment Advisers now owns 64,323 shares of the company’s stock valued at $3,037,000 after buying an additional 28,288 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Stock Up 1.4 %

Shares of NYSE MGM traded up $0.60 during mid-day trading on Thursday, reaching $43.03. 992,089 shares of the company were exchanged, compared to its average volume of 3,775,437. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. The stock has a market cap of $13.50 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 0.91 and a beta of 2.24. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $51.35. The firm has a 50-day moving average of $40.80 and a 200 day moving average of $42.89.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.24 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. MGM Resorts International’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. On average, research analysts expect that MGM Resorts International will post 2.9 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on MGM. Barclays raised their price target on MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. StockNews.com cut MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Mizuho lifted their target price on MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Morgan Stanley lifted their target price on MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, JMP Securities lifted their target price on MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a report on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.83.

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.