Traders Buy High Volume of MGM Resorts International Call Options (NYSE:MGM)

MGM Resorts International (NYSE:MGM) saw unusually large options trading on Monday. Traders acquired 9,570 call options on the stock. This represents an increase of approximately 31% compared to the average daily volume of 7,330 call options.

Trending Headlines about MGM Resorts International

Here are the key news stories impacting MGM Resorts International this week:

• Positive Sentiment: Deutsche Bank raised its price target on MGM Resorts International to $55 and reiterated a buy rating, signaling more upside if the deal process or fundamentals improve.
• Positive Sentiment: Industry coverage highlighted improving gaming trends, including strong online betting demand and Macau revenue, which could support MGM’s business even if the buyout does not proceed. Article: 4 Gaming Stocks Worth Watching Despite Industry Headwinds
• Positive Sentiment: BetMGM announced a new sweepstakes partnership with Marriott Bonvoy, adding another marketing push for its sports betting and iGaming platform. Article: BetMGM and Marriott Bonvoy Launch World’s Game Sweepstakes
• Neutral Sentiment: Johnson Fistel launched an investigation into whether MGM’s board breached fiduciary duties in connection with the potential go-private deal, which adds uncertainty but does not yet change the deal outcome. Article: Johnson Fistel Investigates Potential Board Fiduciary Duty Breaches

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 37,500 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the completion of the transaction, the director owned 5,347,978 shares in the company, valued at approximately $183,275,206.06. This represents a 0.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Iac Inc. purchased 550,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were purchased at an average price of $37.30 per share, with a total value of $20,515,000.00. Following the purchase, the insider directly owned 66,372,350 shares in the company, valued at $2,475,688,655. This trade represents a 0.84% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MGM Resorts International

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of MGM Resorts International by 1.5% during the third quarter. Vanguard Group Inc. now owns 23,576,877 shares of the company’s stock valued at $817,175,000 after purchasing an additional 340,629 shares in the last quarter. TD Asset Management Inc raised its stake in MGM Resorts International by 146.9% during the third quarter. TD Asset Management Inc now owns 92,957 shares of the company’s stock valued at $3,222,000 after buying an additional 55,300 shares during the last quarter. Savant Capital LLC raised its stake in MGM Resorts International by 100.0% during the third quarter. Savant Capital LLC now owns 62,892 shares of the company’s stock valued at $2,180,000 after buying an additional 31,446 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in MGM Resorts International by 423.8% during the third quarter. Thrivent Financial for Lutherans now owns 42,594 shares of the company’s stock valued at $1,476,000 after buying an additional 34,463 shares during the last quarter. Finally, LSV Asset Management raised its stake in MGM Resorts International by 4.3% during the third quarter. LSV Asset Management now owns 2,783,800 shares of the company’s stock valued at $96,487,000 after buying an additional 114,400 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MGM shares. Jefferies Financial Group cut MGM Resorts International from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $50.00 to $44.00 in a report on Friday, May 1st. Barclays raised their price target on MGM Resorts International from $37.00 to $39.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. The Goldman Sachs Group raised their price target on MGM Resorts International from $34.00 to $38.00 and gave the company a “sell” rating in a report on Thursday, April 30th. Berenberg Bank reaffirmed a “buy” rating on shares of MGM Resorts International in a report on Wednesday, February 11th. Finally, UBS Group decreased their price objective on MGM Resorts International from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, six have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $49.12.

MGM Resorts International Price Performance

MGM opened at $48.29 on Wednesday. The firm has a market cap of $12.36 billion, a price-to-earnings ratio of 67.08 and a beta of 1.31. MGM Resorts International has a 1 year low of $29.18 and a 1 year high of $51.59. The stock’s 50 day simple moving average is $38.28 and its 200 day simple moving average is $36.39. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.33 and a quick ratio of 1.30.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The business had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.37 billion. MGM Resorts International had a return on equity of 24.43% and a net margin of 1.03%.MGM Resorts International’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 earnings per share. As a group, analysts predict that MGM Resorts International will post 1.99 earnings per share for the current year.

MGM Resorts International Company Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.