MGM Resorts International (NYSE:MGM) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its position in MGM Resorts International (NYSE:MGM) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,433 shares of the company’s stock after selling 10,662 shares during the period. QRG Capital Management Inc.’s holdings in MGM Resorts International were worth $3,030,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new stake in shares of MGM Resorts International in the fourth quarter worth about $2,053,000. Checchi Capital Advisers LLC lifted its holdings in MGM Resorts International by 43.7% in the fourth quarter. Checchi Capital Advisers LLC now owns 8,189 shares of the company’s stock valued at $284,000 after acquiring an additional 2,492 shares during the period. Illinois Municipal Retirement Fund boosted its position in MGM Resorts International by 60.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 98,833 shares of the company’s stock worth $3,425,000 after purchasing an additional 37,146 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of MGM Resorts International by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,323,992 shares of the company’s stock worth $45,876,000 after purchasing an additional 42,256 shares during the period. Finally, IFP Advisors Inc increased its holdings in shares of MGM Resorts International by 17.0% during the 4th quarter. IFP Advisors Inc now owns 4,824 shares of the company’s stock valued at $167,000 after purchasing an additional 702 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Up 0.3 %

Shares of NYSE MGM opened at $34.76 on Friday. The stock has a market cap of $9.93 billion, a PE ratio of 14.48, a P/E/G ratio of 0.98 and a beta of 2.20. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 12-month low of $31.61 and a 12-month high of $48.24. The company has a 50-day moving average of $34.62 and a 200 day moving average of $36.74.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Macquarie restated an “outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Truist Financial cut their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Barclays reiterated an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group restated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and an average price target of $51.29.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. The trade was 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 owned by company insiders.

MGM Resorts International Company 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.