Qsemble Capital Management LP Sells 45,190 Shares of MGM Resorts International (NYSE:MGM)

Qsemble Capital Management LP reduced its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 77.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,131 shares of the company's stock after selling 45,190 shares during the period. Qsemble Capital Management LP's holdings in MGM Resorts International were worth $513,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MGM. Bank of Montreal Can increased its position in shares of MGM Resorts International by 10.6% during the 3rd quarter. Bank of Montreal Can now owns 291,880 shares of the company's stock worth $11,564,000 after purchasing an additional 27,883 shares in the last quarter. Private Trust Co. NA increased its holdings in shares of MGM Resorts International by 29.5% during the third quarter. Private Trust Co. NA now owns 3,105 shares of the company's stock worth $121,000 after buying an additional 708 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of MGM Resorts International in the third quarter valued at approximately $5,101,000. Prosperity Financial Group Inc. boosted its holdings in shares of MGM Resorts International by 8.9% in the 3rd quarter. Prosperity Financial Group Inc. now owns 12,062 shares of the company's stock worth $472,000 after acquiring an additional 986 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in MGM Resorts International by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company's stock worth $177,777,000 after acquiring an additional 90,645 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Trading Down 0.5 %

Shares of NYSE:MGM traded down $0.18 during midday trading on Thursday, hitting $37.37. The company had a trading volume of 3,184,312 shares, compared to its average volume of 4,087,898. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24. The firm has a fifty day simple moving average of $38.69 and a 200 day simple moving average of $39.65. The stock has a market cap of $11.13 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 2.74 and a beta of 2.23.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. MGM Resorts International's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS. On average, analysts predict that MGM Resorts International will post 2.5 EPS for the current year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the sale, the director now directly owns 5,738,478 shares in the company, valued at $210,716,912.16. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MGM shares. Wells Fargo & Company cut their price objective on MGM Resorts International from $53.00 to $47.00 and set an "overweight" rating for the company in a research report on Thursday, October 17th. UBS Group raised MGM Resorts International to a "hold" rating in a report on Friday, August 23rd. Macquarie decreased their price objective on shares of MGM Resorts International from $58.00 to $55.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. JMP Securities dropped their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a "market outperform" rating for the company in a research note on Monday. Finally, Morgan Stanley upped their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.85.

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.