Oxford Asset Management LLP Increases Stock Position in MGM Resorts International (NYSE:MGM)

Oxford Asset Management LLP grew its position in shares of MGM Resorts International (NYSE:MGM) by 105.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,284 shares of the company’s stock after purchasing an additional 7,839 shares during the quarter. Oxford Asset Management LLP’s holdings in MGM Resorts International were worth $530,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in shares of MGM Resorts International by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock valued at $79,110,000 after purchasing an additional 38,749 shares during the period. Korea Investment CORP boosted its holdings in shares of MGM Resorts International by 964.3% in the fourth quarter. Korea Investment CORP now owns 145,287 shares of the company’s stock valued at $5,034,000 after acquiring an additional 131,636 shares during the period. ACR Alpine Capital Research LLC grew its position in shares of MGM Resorts International by 23.3% during the fourth quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company’s stock worth $5,613,000 after acquiring an additional 30,605 shares during the last quarter. Davis Selected Advisers increased its holdings in shares of MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after acquiring an additional 882,417 shares during the period. Finally, Miracle Mile Advisors LLC purchased a new stake in MGM Resorts International in the 4th quarter valued at $2,010,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Buying and Selling

In other MGM Resorts International news, CFO Jonathan S. Halkyard acquired 10,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $32.17 per share, with a total value of $321,700.00. Following the purchase, the chief financial officer now directly owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their position. The disclosure for this sale can be found here. 3.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MGM has been the topic of several research reports. Leerink Partners downgraded shares of MGM Resorts International to a “market perform” rating in a research report on Thursday, February 13th. Wells Fargo & Company raised their price target on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Argus upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, February 14th. Mizuho increased their price objective on MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Citigroup boosted their target price on MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.06.

MGM Resorts International Stock Performance

Shares of MGM opened at $31.69 on Friday. The company has a market capitalization of $8.97 billion, a PE ratio of 13.20, a P/E/G ratio of 0.98 and a beta of 1.96. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $47.26. The company has a 50-day simple moving average of $31.33 and a 200-day simple moving average of $34.57. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.

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

MGM Resorts International Company 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.