Integrated Quantitative Investments LLC Invests $360,000 in MGM Resorts International (NYSE:MGM)

Integrated Quantitative Investments LLC acquired a new stake in shares of MGM Resorts International (NYSE:MGM) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,400 shares of the company’s stock, valued at approximately $360,000.

Several other institutional investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its position in shares of MGM Resorts International by 1.7% during 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 in the last quarter. Korea Investment CORP increased its stake in shares of MGM Resorts International by 964.3% during the fourth quarter. Korea Investment CORP now owns 145,287 shares of the company’s stock valued at $5,034,000 after acquiring an additional 131,636 shares during the period. ACR Alpine Capital Research LLC raised its holdings in MGM Resorts International by 23.3% during the fourth quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company’s stock worth $5,613,000 after purchasing an additional 30,605 shares in the last quarter. Davis Selected Advisers lifted its position in MGM Resorts International by 4.6% in the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock worth $690,253,000 after purchasing an additional 882,417 shares during the period. Finally, Miracle Mile Advisors LLC bought a new position in MGM Resorts International during the 4th quarter valued at $2,010,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Trading Down 3.7 %

NYSE:MGM opened at $26.86 on Friday. The stock’s 50-day moving average is $33.50 and its two-hundred day moving average is $35.70. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The stock has a market cap of $7.60 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. MGM Resorts International has a fifty-two week low of $25.61 and a fifty-two week high of $47.26.

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

Analyst Upgrades and Downgrades

MGM has been the topic of a number of research reports. JMP Securities reissued a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th. Susquehanna Bancshares upped their price target on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Morgan Stanley raised their price objective on shares of MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. Citigroup increased their target price on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Finally, Stifel Nicolaus lifted 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. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.29.

Insider Buying and Selling

In other news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the acquisition, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. This trade represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. 2.13% of the stock is currently owned by corporate 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.