MGM Resorts International $MGM Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP raised its holdings in MGM Resorts International (NYSE:MGM) by 76.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 353,320 shares of the company’s stock after acquiring an additional 152,529 shares during the quarter. Quantinno Capital Management LP’s holdings in MGM Resorts International were worth $13,076,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC increased its holdings in shares of MGM Resorts International by 202.5% in the 3rd quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock valued at $292,772,000 after purchasing an additional 5,654,757 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in MGM Resorts International by 81.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock worth $264,874,000 after buying an additional 3,429,946 shares in the last quarter. Davis Selected Advisers grew its position in MGM Resorts International by 12.0% during the fourth quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock worth $978,669,000 after buying an additional 2,866,750 shares during the period. Norges Bank acquired a new position in MGM Resorts International during the fourth quarter worth about $82,348,000. Finally, Samlyn Capital LLC purchased a new position in MGM Resorts International in the third quarter valued at about $62,787,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MGM Resorts International

In related news, Director Daniel J. Taylor sold 6,675 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $38.44, for a total transaction of $256,587.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MGM has been the topic of several research analyst reports. Barclays boosted their price target on MGM Resorts International from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Weiss Ratings raised MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday. Jefferies Financial Group reissued a “hold” rating on shares of MGM Resorts International in a report on Thursday, July 2nd. Morgan Stanley reaffirmed an “underweight” rating on shares of MGM Resorts International in a research note on Wednesday, July 22nd. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $43.00 price objective on shares of MGM Resorts International in a research report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.49.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $44.52 on Tuesday. MGM Resorts International has a fifty-two week low of $29.18 and a fifty-two week high of $51.59. The company has a market capitalization of $11.20 billion, a price-to-earnings ratio of 26.98 and a beta of 1.31. The stock has a fifty day moving average of $46.59 and a two-hundred day moving average of $40.09. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.30 and a current ratio of 1.34.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.42 billion. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%.The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 earnings per share. On average, analysts anticipate that MGM Resorts International will post 1.97 EPS for the current fiscal year.

About MGM Resorts International

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.