Stock Traders Buy Large 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 25,515 call options on the company. This is an increase of 88% compared to the typical daily volume of 13,569 call options.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group upgraded shares of MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Morgan Stanley dropped their price target on shares of MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Stifel Nicolaus lifted their price objective on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Susquehanna upped their price objective on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Finally, Macquarie dropped their price objective on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.93.

MGM Resorts International Trading Up 0.8 %

MGM Resorts International stock traded up $0.29 during midday trading on Thursday, hitting $35.67. 1,549,441 shares of the stock were exchanged, compared to its average volume of 3,994,354. The stock’s 50-day simple moving average is $40.11 and its 200 day simple moving average is $41.52. The company has a current ratio of 1.47, a quick ratio of 1.42 and a debt-to-equity ratio of 1.65. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The stock has a market capitalization of $11.19 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 0.63 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.20. The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 earnings per share. On average, equities analysts anticipate that MGM Resorts International will post 2.68 EPS for the current year.

Insider Transactions at MGM Resorts International

In other news, Director Paul J. Salem bought 147,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $33.80 per share, with a total value of $4,985,500.00. Following the purchase, the director now directly owns 1,702,500 shares in the company, valued at $57,544,500. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other MGM Resorts International news, CEO William Hornbuckle bought 58,900 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average cost of $33.73 per share, for a total transaction of $1,986,697.00. Following the completion of the purchase, the chief executive officer now directly owns 377,112 shares of the company’s stock, valued at $12,719,987.76. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Paul J. Salem bought 147,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $33.80 per share, with a total value of $4,985,500.00. Following the completion of the transaction, the director now owns 1,702,500 shares in the company, valued at $57,544,500. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 216,400 shares of company stock valued at $7,312,197. 2.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new position in MGM Resorts International in the 2nd quarter valued at about $28,000. EverSource Wealth Advisors LLC grew its position in shares of MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after purchasing an additional 329 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after acquiring an additional 237 shares during the last quarter. Accent Capital Management LLC bought a new position in MGM Resorts International during the 4th quarter valued at approximately $45,000. Finally, Mendota Financial Group LLC grew its holdings in shares of MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after acquiring an additional 266 shares during the period. Institutional investors and hedge funds 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.