Virtu Financial LLC Has $969,000 Stock Position in MGM Resorts International (NYSE:MGM)

Virtu Financial LLC boosted its stake in MGM Resorts International (NYSE:MGM) by 42.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,687 shares of the company’s stock after buying an additional 6,413 shares during the period. Virtu Financial LLC’s holdings in MGM Resorts International were worth $969,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of MGM. Pathstone Family Office LLC acquired a new position in shares of MGM Resorts International during the 3rd quarter worth approximately $434,000. PNC Financial Services Group Inc. boosted its position in shares of MGM Resorts International by 4.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 41,526 shares of the company’s stock worth $1,526,000 after acquiring an additional 1,747 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of MGM Resorts International by 25.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 62,664 shares of the company’s stock worth $2,291,000 after acquiring an additional 12,770 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth approximately $13,930,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth approximately $784,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Trading Down 1.7 %

Shares of NYSE:MGM traded down $0.68 during mid-day trading on Friday, reaching $39.85. 2,680,903 shares of the company’s stock were exchanged, compared to its average volume of 3,329,645. The firm has a market capitalization of $12.50 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 0.87 and a beta of 2.24. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.51. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35. The business’s fifty day moving average price is $41.21 and its 200-day moving average price is $42.80.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.18. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $0.44 earnings per share. On average, research analysts predict that MGM Resorts International will post 2.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MGM. Morgan Stanley increased their price target on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Mizuho increased their price target on shares of MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. StockNews.com lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. JMP Securities raised their target price on shares of MGM Resorts International from $57.00 to $58.00 and gave the company a “market outperform” rating in a research report on Monday, May 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and a consensus price target of $54.83.

Insider Activity at MGM Resorts International

In related news, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $41.50, for a total value of $180,276.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other MGM Resorts International news, Director Alexis Herman sold 4,344 shares of MGM Resorts International stock in a transaction on Friday, May 17th. The shares were 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith A. Meister sold 139,300 shares of MGM Resorts International stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the completion of the sale, the director now directly owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The disclosure for this sale can be found here. Insiders have sold a total of 147,988 shares of company stock worth $5,991,759 over the last quarter. Company 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.