MGM Resorts International $MGM Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP grew its holdings in MGM Resorts International (NYSE:MGM) by 76.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 353,320 shares of the company’s stock after acquiring an additional 152,529 shares during the quarter. Quantinno Capital Management LP owned about 0.14% of MGM Resorts International worth $13,076,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in MGM Resorts International by 202.5% in the third quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock valued at $292,772,000 after purchasing an additional 5,654,757 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of MGM Resorts International by 81.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock worth $264,874,000 after buying an additional 3,429,946 shares during the last quarter. Davis Selected Advisers boosted its holdings in shares of MGM Resorts International by 12.0% in the 4th quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock valued at $978,669,000 after buying an additional 2,866,750 shares in the last quarter. Norges Bank acquired a new position in shares of MGM Resorts International in the 4th quarter valued at $82,348,000. Finally, Samlyn Capital LLC purchased a new position in shares of MGM Resorts International in the 3rd quarter valued at $62,787,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling

In other news, Director Daniel J. Taylor sold 6,675 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $38.44, for a total value of $256,587.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MGM. Truist Financial raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and boosted their price target for the company from $42.00 to $55.00 in a research report on Wednesday, May 27th. Wells Fargo & Company raised MGM Resorts International from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $33.00 to $48.30 in a report on Tuesday, July 7th. Stifel Nicolaus reiterated a “hold” rating and set a $49.00 target price (up from $48.00) on shares of MGM Resorts International in a research report on Monday, June 15th. Citigroup boosted their target price on MGM Resorts International from $40.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. Finally, Capital One Financial lifted their price target on MGM Resorts International from $46.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $52.49.

MGM Resorts International Stock Down 0.1%

MGM opened at $44.52 on Tuesday. MGM Resorts International has a 52 week low of $29.18 and a 52 week high of $51.59. The business has a 50 day moving average price of $46.59 and a two-hundred day moving average price of $40.09. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 1.80. The company has a market cap of $11.20 billion, a PE ratio of 26.98 and a beta of 1.31.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%.The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same period last year, the business posted $0.79 EPS. The company’s revenue was up 2.2% on a year-over-year basis. As a group, research analysts anticipate that MGM Resorts International will post 1.97 EPS for the current year.

MGM Resorts International Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.