MGM Resorts International $MGM Stake Increased by Quadrant Capital Group LLC

Quadrant Capital Group LLC lifted its holdings in MGM Resorts International (NYSE:MGM) by 77.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,204 shares of the company’s stock after buying an additional 8,848 shares during the period. Quadrant Capital Group LLC’s holdings in MGM Resorts International were worth $695,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Employees Retirement System of Texas acquired a new stake in MGM Resorts International during the 2nd quarter worth about $45,000. Russell Investments Group Ltd. increased its holdings in shares of MGM Resorts International by 19.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 228,955 shares of the company’s stock valued at $7,874,000 after purchasing an additional 36,683 shares during the period. J.W. Cole Advisors Inc. purchased a new stake in shares of MGM Resorts International in the second quarter worth approximately $255,000. XTX Topco Ltd acquired a new stake in shares of MGM Resorts International during the second quarter worth approximately $2,164,000. Finally, Coldstream Capital Management Inc. grew its position in MGM Resorts International by 9.2% during the second quarter. Coldstream Capital Management Inc. now owns 7,075 shares of the company’s stock valued at $243,000 after purchasing an additional 599 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Trading Up 0.4%

MGM Resorts International stock opened at $35.43 on Tuesday. MGM Resorts International has a one year low of $25.30 and a one year high of $41.32. The company’s fifty day moving average price is $32.94 and its two-hundred day moving average price is $34.59. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.18. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 221.46, a PEG ratio of 1.40 and a beta of 1.66.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.13). MGM Resorts International had a return on equity of 16.95% and a net margin of 0.40%.The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the company posted $0.54 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. On average, analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MGM has been the subject of a number of research analyst reports. Wells Fargo & Company initiated coverage on shares of MGM Resorts International in a research report on Tuesday, November 18th. They issued an “underweight” rating and a $29.00 target price for the company. Mizuho set a $62.00 price objective on MGM Resorts International in a report on Thursday, October 30th. Macquarie lowered their target price on MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, October 2nd. Zacks Research lowered MGM Resorts International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $31.00 price target on shares of MGM Resorts International in a report on Thursday, October 30th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, MGM Resorts International presently has a consensus rating of “Hold” and a consensus price target of $45.97.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 242,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $35.42, for a total value of $8,571,640.00. Following the transaction, the director owned 5,385,478 shares of the company’s stock, valued at $190,753,630.76. This trade represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Mcmanus sold 60,000 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $36.12, for a total transaction of $2,167,200.00. Following the sale, the insider directly owned 31,521 shares of the company’s stock, valued at approximately $1,138,538.52. This represents a 65.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.06% of the company’s stock.

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.