Quantbot Technologies LP Acquires 71,627 Shares of MGM Resorts International (NYSE:MGM)

Quantbot Technologies LP grew its stake in MGM Resorts International (NYSE:MGM) by 110.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 136,433 shares of the company’s stock after purchasing an additional 71,627 shares during the period. Quantbot Technologies LP’s holdings in MGM Resorts International were worth $4,727,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MGM. Blueshift Asset Management LLC raised its stake in shares of MGM Resorts International by 26.4% in the fourth quarter. Blueshift Asset Management LLC now owns 32,151 shares of the company’s stock valued at $1,114,000 after acquiring an additional 6,715 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in MGM Resorts International by 19.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 114,666 shares of the company’s stock worth $3,973,000 after purchasing an additional 18,419 shares in the last quarter. American Assets Investment Management LLC grew its holdings in shares of MGM Resorts International by 26.5% during the fourth quarter. American Assets Investment Management LLC now owns 31,565 shares of the company’s stock worth $1,094,000 after purchasing an additional 6,619 shares during the last quarter. Cibc World Markets Corp increased its stake in shares of MGM Resorts International by 13.2% in the fourth quarter. Cibc World Markets Corp now owns 35,770 shares of the company’s stock valued at $1,239,000 after buying an additional 4,184 shares in the last quarter. Finally, American Assets Capital Advisers LLC raised its holdings in shares of MGM Resorts International by 10.8% in the fourth quarter. American Assets Capital Advisers LLC now owns 520,334 shares of the company’s stock valued at $18,030,000 after buying an additional 50,782 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MGM shares. Stifel Nicolaus raised their price objective on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Mizuho raised their price target on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Barclays reaffirmed an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Wedbush reissued an “outperform” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Susquehanna Bancshares upped their price target on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.29.

MGM Resorts International Price Performance

NYSE MGM opened at $31.42 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a 52-week low of $29.99 and a 52-week high of $48.25. The business has a 50 day simple moving average of $34.02 and a 200 day simple moving average of $36.07. The stock has a market cap of $8.97 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. Analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. This trade represents a 24.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the transaction, the chief financial officer now owns 75,648 shares of the company’s stock, valued at $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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.