Quantinno Capital Management LP Grows Stake in MGM Resorts International (NYSE:MGM)

Quantinno Capital Management LP lifted its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 140.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,070 shares of the company's stock after purchasing an additional 57,818 shares during the quarter. Quantinno Capital Management LP's holdings in MGM Resorts International were worth $3,873,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Cetera Investment Advisers lifted its stake in shares of MGM Resorts International by 78.5% in the 1st quarter. Cetera Investment Advisers now owns 64,323 shares of the company's stock worth $3,037,000 after acquiring an additional 28,288 shares during the period. Shikiar Asset Management Inc. lifted its position in MGM Resorts International by 15.4% in the second quarter. Shikiar Asset Management Inc. now owns 219,025 shares of the company's stock valued at $9,733,000 after purchasing an additional 29,150 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in MGM Resorts International by 1.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company's stock valued at $1,018,000 after purchasing an additional 278 shares in the last quarter. SteelPeak Wealth LLC acquired a new position in MGM Resorts International during the 2nd quarter worth approximately $452,000. Finally, Wedge Capital Management L L P NC purchased a new position in shares of MGM Resorts International during the 2nd quarter worth approximately $3,314,000. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Trading Down 0.2 %

Shares of NYSE:MGM traded down $0.06 during midday trading on Monday, reaching $36.60. The company's stock had a trading volume of 5,030,435 shares, compared to its average volume of 4,075,751. The business has a 50 day moving average price of $38.65 and a 200 day moving average price of $39.46. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 3.13 and a beta of 2.20. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share 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 for the quarter, compared to analysts' expectations of $4.21 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The company's revenue was up 5.3% on a year-over-year basis. Research analysts forecast that MGM Resorts International will post 2.48 EPS for the current year.

Insider Activity

In related news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares of the company's stock, valued at approximately $210,716,912.16. This represents a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.13% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on MGM. UBS Group upgraded MGM Resorts International to a "hold" rating in a research note on Friday, August 23rd. 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. JMP Securities reduced their price objective 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, November 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of MGM Resorts International from $57.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, October 1st. Finally, Wells Fargo & Company dropped their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an "overweight" rating for the company in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $52.85.

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.