MGM Resorts International (NYSE:MGM) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 53.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,095 shares of the company's stock after selling 112,585 shares during the period. QRG Capital Management Inc.'s holdings in MGM Resorts International were worth $3,835,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Norden Group LLC purchased a new position in MGM Resorts International in the 1st quarter valued at $462,000. Private Advisor Group LLC grew its position in shares of MGM Resorts International by 7.5% in the first quarter. Private Advisor Group LLC now owns 26,942 shares of the company's stock valued at $1,272,000 after purchasing an additional 1,877 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of MGM Resorts International by 40.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,099 shares of the company's stock valued at $1,666,000 after purchasing an additional 10,886 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in MGM Resorts International by 109.3% during the first quarter. Janney Montgomery Scott LLC now owns 63,598 shares of the company's stock worth $3,002,000 after buying an additional 33,207 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in MGM Resorts International by 7.8% during the first quarter. Daiwa Securities Group Inc. now owns 27,210 shares of the company's stock worth $1,285,000 after buying an additional 1,971 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MGM shares. Susquehanna lifted their price target on MGM Resorts International from $54.00 to $55.00 and gave the stock a "positive" rating in a report on Thursday, August 1st. UBS Group raised MGM Resorts International to a "hold" rating in a research note on Friday, August 23rd. Morgan Stanley upped their price target on MGM Resorts International from $43.00 to $44.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 22nd. JMP Securities cut their price objective on MGM Resorts International from $56.00 to $54.00 and set a "market outperform" rating for the company in a research report on Thursday, October 31st. Finally, Truist Financial decreased their target price on shares of MGM Resorts International from $58.00 to $56.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $53.15.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction on 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 transaction, the director now owns 5,738,478 shares of the company's stock, valued at $210,716,912.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.83% of the company's stock.

MGM Resorts International Stock Up 0.6 %

NYSE MGM traded up $0.23 during trading hours on Thursday, hitting $37.66. 3,003,957 shares of the company were exchanged, compared to its average volume of 4,116,011. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The firm has a market cap of $11.21 billion, a price-to-earnings ratio of 13.37, a PEG ratio of 2.60 and a beta of 2.23. The company has a 50 day moving average of $38.35 and a two-hundred day moving average of $40.04. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24.

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

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.