MGM Resorts International (NYSE:MGM) Shares Sold by Trexquant Investment LP

Trexquant Investment LP trimmed its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 26.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 517,637 shares of the company's stock after selling 182,269 shares during the period. Trexquant Investment LP owned approximately 0.17% of MGM Resorts International worth $17,936,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Norges Bank acquired a new stake in MGM Resorts International during the fourth quarter worth about $88,033,000. HG Vora Capital Management LLC purchased a new position in shares of MGM Resorts International during the 3rd quarter valued at approximately $97,725,000. Davis Selected Advisers lifted its stake in shares of MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock valued at $690,253,000 after purchasing an additional 882,417 shares during the period. Raymond James Financial Inc. acquired a new position in shares of MGM Resorts International in the 4th quarter valued at $20,053,000. Finally, Amundi grew its position in MGM Resorts International by 207.5% during the fourth quarter. Amundi now owns 836,144 shares of the company's stock valued at $27,334,000 after buying an additional 564,202 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Needham & Company LLC reiterated a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Morgan Stanley boosted their price objective on MGM Resorts International from $39.00 to $41.00 and gave the company an "equal weight" rating in a research report on Monday, February 24th. Macquarie reiterated an "outperform" rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Wedbush reissued an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.29.

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MGM Resorts International Price Performance

Shares of MGM Resorts International stock traded down $2.90 on Thursday, hitting $27.86. 13,211,323 shares of the company were exchanged, compared to its average volume of 4,424,066. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The company has a 50-day moving average price of $33.63 and a 200 day moving average price of $35.76. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. MGM Resorts International has a 1-year low of $27.51 and a 1-year high of $47.45.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share 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%. As a group, sell-side analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jonathan S. Halkyard bought 10,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the acquisition, the chief financial officer now owns 75,648 shares of the company's stock, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

MGM Resorts International 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.