Qsemble Capital Management LP Sells 71,144 Shares of MGM Resorts International $MGM

Qsemble Capital Management LP lowered its position in shares of MGM Resorts International (NYSE:MGM) by 90.0% in the second quarter, Holdings Channel reports. The firm owned 7,902 shares of the company’s stock after selling 71,144 shares during the period. Qsemble Capital Management LP’s holdings in MGM Resorts International were worth $378,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Hsbc Holdings PLC increased its holdings in shares of MGM Resorts International by 31.0% in the first quarter. Hsbc Holdings PLC now owns 254,801 shares of the company’s stock worth $9,415,000 after acquiring an additional 60,340 shares in the last quarter. Bastion Asset Management Inc. bought a new position in shares of MGM Resorts International during the 1st quarter valued at about $6,212,000. M&T Bank Corp lifted its holdings in shares of MGM Resorts International by 1,118.7% during the 4th quarter. M&T Bank Corp now owns 97,630 shares of the company’s stock valued at $3,563,000 after purchasing an additional 89,619 shares in the last quarter. Todd Asset Management LLC grew its position in shares of MGM Resorts International by 9.2% in the 4th quarter. Todd Asset Management LLC now owns 709,520 shares of the company’s stock valued at $25,890,000 after purchasing an additional 59,691 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of MGM Resorts International by 6.3% in the 1st quarter. California Public Employees Retirement System now owns 424,481 shares of the company’s stock valued at $15,710,000 after purchasing an additional 25,266 shares during the period. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Down 0.1%

MGM stock opened at $44.03 on Friday. 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 business has a 50 day moving average price of $46.37 and a two-hundred day moving average price of $40.67. The company has a market cap of $11.08 billion, a price-to-earnings ratio of 26.69 and a beta of 1.31. MGM Resorts International has a twelve month low of $29.18 and a twelve month high of $51.59.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The firm had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter last year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts anticipate that MGM Resorts International will post 1.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on MGM. Capital One Financial raised their target price on shares of MGM Resorts International from $46.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. UBS Group set a $48.00 price target on shares of MGM Resorts International in a report on Thursday, July 2nd. HSBC raised shares of MGM Resorts International to a “strong-buy” rating in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of MGM Resorts International from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, Mizuho reduced their target price on shares of MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating for the company in a research note on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $52.49.

Insider Buying and Selling

In other news, Director Daniel J. Taylor sold 6,675 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $38.44, for a total value of $256,587.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 3.38% of the company’s stock.

MGM Resorts International Company 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.