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

Oxford Asset Management LLP increased its position in shares of MGM Resorts International (NYSE:MGM) by 105.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor 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 also recently added to or reduced their stakes in MGM. Davis Selected Advisers raised its position in shares of MGM Resorts International by 4.6% in the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after buying an additional 882,417 shares during the last quarter. Invesco Ltd. grew its position in shares of MGM Resorts International by 22.5% in the fourth quarter. Invesco Ltd. now owns 5,785,343 shares of the company’s stock valued at $200,462,000 after purchasing an additional 1,063,707 shares in the last quarter. Marshall Wace LLP lifted its position in MGM Resorts International by 50.9% during the fourth quarter. Marshall Wace LLP now owns 3,233,718 shares of the company’s stock worth $112,048,000 after buying an additional 1,090,533 shares in the last quarter. Norges Bank acquired a new position in MGM Resorts International during the fourth quarter worth $88,033,000. Finally, Charles Schwab Investment Management Inc. increased its stake 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 worth $79,110,000 after acquiring an additional 38,749 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $31.69 on Friday. The firm has a 50 day moving average of $31.33 and a two-hundred day moving average of $34.57. The stock 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. 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 has a 52 week low of $25.30 and a 52 week high of $47.26.

MGM Resorts International (NYSE:MGM) last released 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 return on equity of 21.08% and a net margin of 4.33%. On average, research analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MGM. Susquehanna Bancshares upped their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. JMP Securities cut their price target on shares of MGM Resorts International from $50.00 to $45.00 and set a “market outperform” rating for the company in a report on Thursday, April 17th. Mizuho upped their price objective on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Stifel Nicolaus raised their target price on MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Morgan Stanley cut their price objective on MGM Resorts International from $37.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, MGM Resorts International has an average rating of “Moderate Buy” and a consensus price target of $50.06.

Insider Transactions at MGM Resorts International

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