Quest Partners LLC Purchases New Holdings in MGM Resorts International (NYSE:MGM)

Quest Partners LLC bought a new position in MGM Resorts International (NYSE:MGM) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,659 shares of the company’s stock, valued at approximately $387,000.

A number of other large investors have also recently made changes to their positions in MGM. California Public Employees Retirement System boosted its position in MGM Resorts International by 1.8% during the 3rd quarter. California Public Employees Retirement System now owns 576,368 shares of the company’s stock valued at $21,187,000 after acquiring an additional 10,157 shares in the last quarter. Lincoln National Corp boosted its holdings in shares of MGM Resorts International by 15.0% during the 3rd quarter. Lincoln National Corp now owns 9,679 shares of the company’s stock valued at $356,000 after purchasing an additional 1,260 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of MGM Resorts International by 23.0% in the 3rd quarter. Victory Capital Management Inc. now owns 153,344 shares of the company’s stock valued at $5,637,000 after acquiring an additional 28,639 shares during the last quarter. AdvisorShares Investments LLC raised its position in MGM Resorts International by 9.6% in the 3rd quarter. AdvisorShares Investments LLC now owns 11,613 shares of the company’s stock worth $427,000 after purchasing an additional 1,013 shares during the period. Finally, Schechter Investment Advisors LLC increased its position in shares of MGM Resorts International by 12.0% during the third quarter. Schechter Investment Advisors LLC now owns 8,416 shares of the company’s stock worth $309,000 after acquiring an additional 901 shares during the period. 68.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Daniel J. Taylor sold 4,344 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $41.02, for a total value of $178,190.88. Following the completion of the transaction, the director now owns 5,250 shares in the company, valued at approximately $215,355. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Daniel J. Taylor sold 4,344 shares of MGM Resorts International stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $41.02, for a total value of $178,190.88. Following the completion of the sale, the director now owns 5,250 shares of the company’s stock, valued at $215,355. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the transaction, the director now owns 6,098,778 shares in the company, valued at $261,637,576.20. The disclosure for this sale can be found here. Insiders have sold 333,688 shares of company stock worth $14,300,967 in the last ninety days. 2.13% of the stock is currently owned by insiders.

MGM Resorts International Price Performance

Shares of NYSE MGM traded up $0.79 during mid-day trading on Friday, reaching $39.72. The company had a trading volume of 2,937,018 shares, compared to its average volume of 4,005,313. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.51. MGM Resorts International has a one year low of $34.12 and a one year high of $51.35. The firm has a market cap of $12.46 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 0.86 and a beta of 2.22. The business’s 50-day simple moving average is $42.98 and its 200 day simple moving average is $42.74.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 earnings per share. On average, research analysts predict that MGM Resorts International will post 2.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MGM shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Barclays raised their price objective on shares of MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Macquarie reaffirmed an “outperform” rating and issued a $58.00 target price on shares of MGM Resorts International in a report on Wednesday, February 14th. Susquehanna upgraded shares of MGM Resorts International from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $46.00 to $54.00 in a research report on Thursday, May 2nd. Finally, JMP Securities boosted their price objective on shares of MGM Resorts International from $57.00 to $58.00 and gave the company a “market outperform” rating in a research report on Monday, May 6th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $54.83.

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.