Quantbot Technologies LP boosted its position in MGM Resorts International (NYSE:MGM - Free Report) by 110.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 136,433 shares of the company's stock after acquiring an additional 71,627 shares during the period. Quantbot Technologies LP's holdings in MGM Resorts International were worth $4,727,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Assetmark Inc. increased its stake in shares of MGM Resorts International by 104.1% in the fourth quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after purchasing an additional 411 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in MGM Resorts International during the 4th quarter valued at $28,000. Brooklyn Investment Group purchased a new stake in shares of MGM Resorts International during the third quarter worth $44,000. Global Retirement Partners LLC boosted its holdings in shares of MGM Resorts International by 47.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after acquiring an additional 404 shares during the period. Finally, Modus Advisors LLC purchased a new position in shares of MGM Resorts International in the fourth quarter valued at $46,000. 68.11% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
MGM has been the subject of several analyst reports. Leerink Partners downgraded MGM Resorts International to a "market perform" rating in a research note on Thursday, February 13th. Argus upgraded shares of MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a research report on Friday, February 14th. Wedbush reaffirmed an "outperform" rating on shares of MGM Resorts International in a report on Thursday, February 13th. BTIG Research downgraded shares of MGM Resorts International from a "buy" rating to a "neutral" rating in a report on Monday, February 3rd. Finally, Canaccord Genuity Group reaffirmed a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, MGM Resorts International presently has an average rating of "Moderate Buy" and a consensus target price of $51.29.
Read Our Latest Research Report on MGM Resorts International
MGM Resorts International Price Performance
MGM traded down $0.39 during midday trading on Tuesday, hitting $32.03. The stock had a trading volume of 4,664,395 shares, compared to its average volume of 4,248,356. The company has a market cap of $9.15 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. MGM Resorts International has a 1 year low of $29.99 and a 1 year high of $48.25. The business has a fifty day moving average of $34.00 and a 200 day moving average of $36.02. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30.
MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, equities analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.
Insider Activity
In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the acquisition, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at $2,433,596.16. This represents a 15.23 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction 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 sale, the chief accounting officer now directly owns 18,301 shares of the company's stock, valued at $692,509.84. The trade was 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 Company Profile
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Free Report)
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.
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