QRG Capital Management Inc. Sells 10,662 Shares of MGM Resorts International (NYSE:MGM)

QRG Capital Management Inc. reduced its position in MGM Resorts International (NYSE:MGM - Free Report) by 10.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 87,433 shares of the company's stock after selling 10,662 shares during the period. QRG Capital Management Inc.'s holdings in MGM Resorts International were worth $3,030,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in shares of MGM Resorts International by 6,902.6% in the 3rd quarter. International Assets Investment Management LLC now owns 43,626 shares of the company's stock valued at $1,705,000 after purchasing an additional 43,003 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in MGM Resorts International by 50.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,037 shares of the company's stock valued at $715,000 after buying an additional 6,085 shares during the last quarter. Americana Partners LLC bought a new stake in shares of MGM Resorts International in the third quarter worth $304,000. Farther Finance Advisors LLC boosted its position in MGM Resorts International by 12.6% during the third quarter. Farther Finance Advisors LLC now owns 9,685 shares of the company's stock valued at $379,000 after purchasing an additional 1,084 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in MGM Resorts International by 4.8% during the third quarter. Janney Montgomery Scott LLC now owns 71,021 shares of the company's stock worth $2,776,000 after buying an additional 3,285 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares of the company's stock, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction that occurred 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 owns 18,301 shares in the company, valued at $692,509.84. This represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.13% of the company's stock.

MGM Resorts International Price Performance

NYSE:MGM traded down $0.66 during mid-day trading on Monday, reaching $34.10. The stock had a trading volume of 1,718,145 shares, compared to its average volume of 4,987,791. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24. The stock has a market capitalization of $9.74 billion, a PE ratio of 14.22, a P/E/G ratio of 0.98 and a beta of 2.20. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The stock has a 50-day simple moving average of $34.62 and a two-hundred day simple moving average of $36.73.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping 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, equities analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on MGM shares. Morgan Stanley lifted their price target on MGM Resorts International from $39.00 to $41.00 and gave the stock an "equal weight" rating in a report on Monday, February 24th. Truist Financial decreased their target price on MGM Resorts International from $54.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Wedbush reaffirmed an "outperform" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Stifel Nicolaus lifted their price objective on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, Argus raised shares of MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a research report on Friday, February 14th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.29.

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.