64,806 Shares in MGM Resorts International (NYSE:MGM) Bought by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in shares of MGM Resorts International (NYSE:MGM - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 64,806 shares of the company's stock, valued at approximately $2,533,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in MGM Resorts International during the 2nd quarter worth about $28,000. MidAtlantic Capital Management Inc. acquired a new position in shares of MGM Resorts International in the third quarter worth approximately $28,000. Eastern Bank bought a new stake in MGM Resorts International in the third quarter valued at approximately $35,000. EverSource Wealth Advisors LLC boosted its holdings in MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company's stock valued at $41,000 after acquiring an additional 329 shares during the last quarter. Finally, UMB Bank n.a. increased its position in MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company's stock valued at $42,000 after purchasing an additional 237 shares during the period. Institutional investors and hedge funds own 68.11% of the company's stock.

Insider Buying and Selling at MGM Resorts International

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

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MGM. Macquarie lowered their target price on shares of MGM Resorts International from $58.00 to $55.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. Truist Financial lowered their price objective on MGM Resorts International from $58.00 to $56.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their target price on MGM Resorts International from $57.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, October 1st. Wells Fargo & Company dropped their price target on MGM Resorts International from $53.00 to $47.00 and set an "overweight" rating on the stock in a research note on Thursday, October 17th. Finally, Susquehanna increased 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. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $52.85.

MGM Resorts International Trading Down 0.5 %

Shares of NYSE MGM traded down $0.18 during trading hours on Thursday, hitting $37.37. The company's stock had a trading volume of 3,184,312 shares, compared to its average volume of 4,087,898. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24. The stock has a market cap of $11.13 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 2.74 and a beta of 2.23. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The business has a 50-day simple moving average of $38.69 and a 200-day simple moving average of $39.65.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate 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 company had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the company posted $0.64 earnings per share. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, analysts anticipate that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

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.