Headlands Technologies LLC Buys 4,599 Shares of MGM Resorts International (NYSE:MGM)

Headlands Technologies LLC grew its stake in shares of MGM Resorts International (NYSE:MGM) by 181.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,134 shares of the company’s stock after purchasing an additional 4,599 shares during the quarter. Headlands Technologies LLC’s holdings in MGM Resorts International were worth $319,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Davis Selected Advisers bought a new stake in MGM Resorts International in the third quarter worth $361,915,000. Boston Partners increased its position in MGM Resorts International by 1,447.6% in the third quarter. Boston Partners now owns 3,980,892 shares of the company’s stock worth $145,916,000 after purchasing an additional 3,723,659 shares during the last quarter. Invesco Ltd. increased its position in MGM Resorts International by 14.6% in the third quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock worth $144,840,000 after purchasing an additional 500,566 shares during the last quarter. Ameriprise Financial Inc. increased its position in MGM Resorts International by 4.4% in the third quarter. Ameriprise Financial Inc. now owns 2,527,893 shares of the company’s stock worth $92,923,000 after purchasing an additional 106,158 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in MGM Resorts International by 544.8% in the third quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock worth $73,364,000 after purchasing an additional 1,686,267 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Down 2.6 %

Shares of MGM opened at $41.09 on Friday. The firm has a market capitalization of $13.03 billion, a P/E ratio of 12.96, a P/E/G ratio of 1.69 and a beta of 2.19. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46. The firm has a fifty day moving average price of $43.71 and a 200-day moving average price of $42.12.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.39. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The business’s revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 earnings per share. Equities research analysts expect that MGM Resorts International will post 2.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MGM shares. TheStreet upgraded shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Barclays dropped their price objective on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Morgan Stanley lifted their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. StockNews.com lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.34.

Insider Activity

In other news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the sale, the director now directly owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.