9,195 Shares in MGM Resorts International (NYSE:MGM) Bought by MQS Management LLC

MQS Management LLC acquired a new position in MGM Resorts International (NYSE:MGM) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,195 shares of the company’s stock, valued at approximately $359,000.

Other large investors also recently bought and sold shares of the company. US Bancorp DE lifted its position in MGM Resorts International by 1.3% in the first quarter. US Bancorp DE now owns 23,558 shares of the company’s stock worth $1,112,000 after buying an additional 298 shares during the last quarter. Avantax Advisory Services Inc. purchased a new stake in MGM Resorts International during the first quarter worth $244,000. ProShare Advisors LLC boosted its position in MGM Resorts International by 61.4% during the first quarter. ProShare Advisors LLC now owns 57,445 shares of the company’s stock valued at $2,712,000 after purchasing an additional 21,858 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of MGM Resorts International by 3.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 429,611 shares of the company’s stock worth $19,083,000 after buying an additional 13,292 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in MGM Resorts International by 30.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 346,469 shares of the company’s stock valued at $16,357,000 after buying an additional 80,026 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Down 1.2 %

Shares of MGM stock opened at $37.52 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a market cap of $11.17 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 2.62 and a beta of 2.23. The company has a 50-day moving average of $38.39 and a two-hundred day moving average of $39.84. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. On average, analysts predict that MGM Resorts International will post 2.5 EPS for the current year.

Analyst Upgrades and Downgrades

MGM has been the topic of several research reports. UBS Group raised MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Morgan Stanley raised their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft reduced their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Macquarie lowered their price objective on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Barclays dropped their target price on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.15.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. This represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.13% of the company’s stock.

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.