MGM Resorts International (MGM) Short Interest Up 41.7% in March

MGM Resorts International (NYSE:MGM) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 17,075,362 shares, an increase of 41.7% from the February 28th total of 12,054,377 shares. Currently, 3.5% of the company’s shares are short sold. Based on an average trading volume of 5,721,302 shares, the days-to-cover ratio is presently 3.0 days.

A number of analysts have recently issued reports on MGM shares. Deutsche Bank reiterated a “hold” rating and set a $33.00 target price on shares of MGM Resorts International in a report on Monday, January 28th. Morgan Stanley upped their price target on MGM Resorts International from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, February 14th. Zacks Investment Research cut MGM Resorts International from a “hold” rating to a “strong sell” rating in a research note on Monday, February 18th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $30.00 target price on shares of MGM Resorts International in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. MGM Resorts International has an average rating of “Hold” and a consensus price target of $33.50.

In other news, Director Mary Christine Gay bought 3,700 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was acquired at an average price of $27.27 per share, for a total transaction of $100,899.00. Following the acquisition, the director now owns 18,036 shares of the company’s stock, valued at $491,841.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.47% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its stake in shares of MGM Resorts International by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 21,903 shares of the company’s stock worth $531,000 after purchasing an additional 386 shares in the last quarter. Natixis Advisors L.P. boosted its stake in MGM Resorts International by 0.3% during the fourth quarter. Natixis Advisors L.P. now owns 140,137 shares of the company’s stock valued at $3,399,000 after buying an additional 468 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in MGM Resorts International by 2.3% during the first quarter. Louisiana State Employees Retirement System now owns 26,900 shares of the company’s stock valued at $690,000 after buying an additional 600 shares in the last quarter. Regentatlantic Capital LLC boosted its stake in MGM Resorts International by 1.7% during the fourth quarter. Regentatlantic Capital LLC now owns 36,707 shares of the company’s stock valued at $891,000 after buying an additional 602 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in MGM Resorts International by 3.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 22,265 shares of the company’s stock valued at $540,000 after buying an additional 708 shares in the last quarter. 80.88% of the stock is owned by institutional investors.

NYSE MGM traded down $0.07 during trading hours on Monday, hitting $27.28. The company had a trading volume of 4,095,681 shares, compared to its average volume of 7,779,293. MGM Resorts International has a fifty-two week low of $21.61 and a fifty-two week high of $36.80. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.86 and a quick ratio of 0.82. The firm has a market capitalization of $14.68 billion, a PE ratio of 27.56, a P/E/G ratio of 3.74 and a beta of 1.38.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, February 13th. The company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. MGM Resorts International had a return on equity of 5.23% and a net margin of 3.96%. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $3.01 billion. MGM Resorts International’s quarterly revenue was up 17.6% compared to the same quarter last year. Equities research analysts expect that MGM Resorts International will post 1.12 earnings per share for the current fiscal year.

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MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

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