MGM Resorts International Sees Unusually Large Options Volume (NYSE:MGM)

MGM Resorts International (NYSE:MGM) was the recipient of some unusual options trading on Tuesday. Investors bought 14,795 call options on the company. This is an increase of 37% compared to the average volume of 10,784 call options.

Wall Street Analysts Forecast Growth

MGM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 14th. TheStreet raised MGM Resorts International from a “c+” rating to a “b-” rating in a research note on Tuesday, February 13th. Barclays cut their price objective on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Mizuho initiated coverage on MGM Resorts International in a research note on Tuesday. They issued a “buy” rating and a $61.00 price objective on the stock. Finally, StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.28.

MGM Resorts International Trading Up 0.3 %

NYSE MGM opened at $46.60 on Thursday. The company has a market cap of $14.77 billion, a price-to-earnings ratio of 14.70, a P/E/G ratio of 1.48 and a beta of 2.18. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35. The business has a 50 day moving average price of $43.60 and a 200-day moving average price of $41.19. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.67 by $0.39. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.14 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The company’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 earnings per share. As a group, equities analysts expect that MGM Resorts International will post 2.53 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following 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 is accessible through the SEC website. Insiders own 2.39% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Institutional investors have recently bought and sold shares of the stock. RB Capital Management LLC boosted its position in MGM Resorts International by 29.1% in the first quarter. RB Capital Management LLC now owns 7,796 shares of the company’s stock worth $327,000 after purchasing an additional 1,756 shares during the last quarter. American Century Companies Inc. boosted its position in MGM Resorts International by 10.7% in the first quarter. American Century Companies Inc. now owns 24,436 shares of the company’s stock worth $1,024,000 after purchasing an additional 2,368 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in MGM Resorts International by 3.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,398 shares of the company’s stock worth $2,114,000 after purchasing an additional 1,542 shares during the last quarter. Synovus Financial Corp boosted its position in MGM Resorts International by 107.5% in the first quarter. Synovus Financial Corp now owns 12,597 shares of the company’s stock worth $529,000 after purchasing an additional 6,526 shares during the last quarter. Finally, Cibc World Market Inc. lifted its position in shares of MGM Resorts International by 81.6% during the 1st quarter. Cibc World Market Inc. now owns 10,980 shares of the company’s stock valued at $461,000 after buying an additional 4,934 shares during the last quarter. Institutional investors own 68.11% 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.