Trexquant Investment LP Sells 182,269 Shares of MGM Resorts International (NYSE:MGM)

Trexquant Investment LP reduced its holdings in shares of MGM Resorts International (NYSE:MGM) by 26.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 517,637 shares of the company’s stock after selling 182,269 shares during the quarter. Trexquant Investment LP’s holdings in MGM Resorts International were worth $17,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Davis Selected Advisers lifted its stake in MGM Resorts International by 4.6% during the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after acquiring an additional 882,417 shares during the period. Norges Bank bought a new stake in MGM Resorts International in the 4th quarter worth approximately $88,033,000. HG Vora Capital Management LLC purchased a new stake in MGM Resorts International during the 3rd quarter valued at $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of MGM Resorts International by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock valued at $89,832,000 after buying an additional 123,124 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of MGM Resorts International by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock worth $79,110,000 after buying an additional 38,749 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Leerink Partners downgraded MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Canaccord Genuity Group reiterated a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Needham & Company LLC reaffirmed a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Stifel Nicolaus increased their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Barclays restated an “equal weight” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Stock Up 1.0 %

Shares of MGM stock opened at $29.93 on Wednesday. The stock has a market cap of $8.55 billion, a P/E ratio of 12.47, a PEG ratio of 0.98 and a beta of 2.18. The company’s fifty day simple moving average is $33.77 and its two-hundred day simple moving average is $35.85. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 52 week low of $28.63 and a 52 week high of $47.45.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. Analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Activity

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the stock in a transaction 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 owns 18,301 shares in the company, valued at $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jonathan S. Halkyard bought 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the acquisition, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. The trade was 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.

MGM Resorts International 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.