Factorial Partners LLC Takes $658,000 Position in MGM Resorts International (NYSE:MGM)

Factorial Partners LLC acquired a new stake in MGM Resorts International (NYSE:MGM) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 19,000 shares of the company’s stock, valued at approximately $658,000.

A number of other hedge funds also recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in shares of MGM Resorts International by 120.6% in the 3rd quarter. Blue Trust Inc. now owns 1,348 shares of the company’s stock worth $53,000 after purchasing an additional 737 shares during the last quarter. International Assets Investment Management LLC lifted its position in MGM Resorts International by 6,902.6% during the 3rd quarter. International Assets Investment Management LLC now owns 43,626 shares of the company’s stock valued at $1,705,000 after purchasing an additional 43,003 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in MGM Resorts International by 50.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,037 shares of the company’s stock valued at $715,000 after purchasing an additional 6,085 shares during the period. Pinnacle Associates Ltd. lifted its position in MGM Resorts International by 7.1% during the 3rd quarter. Pinnacle Associates Ltd. now owns 119,144 shares of the company’s stock valued at $4,657,000 after purchasing an additional 7,902 shares during the period. Finally, Americana Partners LLC acquired a new position in MGM Resorts International during the 3rd quarter valued at about $304,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $34.76 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The company has a market capitalization of $9.93 billion, a P/E ratio of 14.48, a price-to-earnings-growth ratio of 0.98 and a beta of 2.20. The company’s 50 day moving average price is $34.61 and its two-hundred day moving average price is $36.77. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, analysts expect that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Analyst Ratings Changes

MGM has been the topic of a number of research reports. BTIG Research downgraded shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Barclays restated an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Capital One Financial upped their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, February 12th. Morgan Stanley increased their price target on shares of MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. Finally, Leerink Partners downgraded shares of MGM Resorts International to a “market perform” rating in a research report on Thursday, February 13th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.29.

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.