MQS Management LLC Takes $359,000 Position in MGM Resorts International (NYSE:MGM)

MQS Management LLC acquired a new position in MGM Resorts International (NYSE:MGM) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 9,195 shares of the company’s stock, valued at approximately $359,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Boston Partners boosted its position in MGM Resorts International by 12.6% during the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock worth $286,933,000 after purchasing an additional 684,676 shares in the last quarter. Bamco Inc. NY raised its position in shares of MGM Resorts International by 3.6% in the first quarter. Bamco Inc. NY now owns 2,101,065 shares of the company’s stock valued at $99,191,000 after buying an additional 73,515 shares during the last quarter. Empower Advisory Group LLC lifted its stake in shares of MGM Resorts International by 4.2% during the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after purchasing an additional 62,997 shares during the period. Marshall Wace LLP boosted its position in shares of MGM Resorts International by 174.8% in the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after acquiring an additional 706,159 shares during the last quarter. Finally, Key Colony Management LLC grew its stake in shares of MGM Resorts International by 11.1% during the 3rd quarter. Key Colony Management LLC now owns 883,000 shares of the company’s stock valued at $34,516,000 after buying an additional 88,000 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction on 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 transaction, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MGM has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Mizuho dropped their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Macquarie decreased their target price on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus lifted their price target on MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Susquehanna boosted their price objective on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $53.15.

MGM Resorts International Stock Performance

Shares of MGM opened at $37.52 on Friday. The company’s 50 day moving average price is $38.39 and its 200 day moving average price is $39.84. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24. The company has a market capitalization of $11.17 billion, a PE ratio of 13.40, a PEG ratio of 2.62 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last issued 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). The business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. MGM Resorts International’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. Research analysts expect that MGM Resorts International will post 2.5 EPS for the current fiscal year.

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.