V Square Quantitative Management LLC Grows Stake in MGM Resorts International (NYSE:MGM)

V Square Quantitative Management LLC grew its holdings in MGM Resorts International (NYSE:MGM) by 31.0% during the third quarter, HoldingsChannel reports. The fund owned 6,939 shares of the company’s stock after purchasing an additional 1,643 shares during the period. V Square Quantitative Management LLC’s holdings in MGM Resorts International were worth $271,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MGM. International Assets Investment Management LLC purchased a new position in shares of MGM Resorts International in the 2nd quarter valued at about $28,000. EverSource Wealth Advisors LLC increased its holdings in shares of MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after acquiring an additional 329 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after acquiring an additional 237 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of MGM Resorts International in the 2nd quarter valued at about $49,000. Finally, Mendota Financial Group LLC increased its holdings in shares of MGM Resorts International by 61.0% in the 3rd quarter. Mendota Financial Group LLC now owns 1,616 shares of the company’s stock valued at $63,000 after acquiring an additional 612 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MGM shares. Stifel Nicolaus increased their price objective on MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. BTIG Research assumed coverage on MGM Resorts International in a research note on Wednesday, July 3rd. They set a “buy” rating and a $52.00 price target on the stock. Susquehanna raised their price target on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Barclays dropped their price target on MGM Resorts International from $56.00 to $54.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, JMP Securities dropped their price target on MGM Resorts International from $57.00 to $56.00 and set a “market outperform” rating on the stock in a research note on Monday, October 14th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.57.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $41.19 on Monday. The stock has a fifty day moving average price of $38.19 and a 200 day moving average price of $40.50. The stock has a market cap of $12.92 billion, a PE ratio of 15.84, a P/E/G ratio of 0.92 and a beta of 2.23. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The company had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the previous year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts forecast that MGM Resorts International will post 2.55 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the transaction, the director now directly owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other MGM Resorts International news, Director Paul J. Salem acquired 147,500 shares of the stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $33.80 per share, with a total value of $4,985,500.00. Following the completion of the transaction, the director now directly owns 1,702,500 shares in the company, valued at approximately $57,544,500. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction on Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the sale, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 216,400 shares of company stock valued at $7,312,197 over the last three months. 2.13% of the stock is currently owned by insiders.

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.