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

Quantbot Technologies LP increased its stake in MGM Resorts International (NYSE:MGM) by 110.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 136,433 shares of the company’s stock after purchasing an additional 71,627 shares during the quarter. Quantbot Technologies LP’s holdings in MGM Resorts International were worth $4,727,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings 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 acquiring an additional 38,749 shares during the last quarter. Goldentree Asset Management LP increased its holdings in shares of MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares during the last quarter. ACR Alpine Capital Research LLC raised its position in shares of MGM Resorts International by 23.3% in the fourth quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company’s stock valued at $5,613,000 after purchasing an additional 30,605 shares during the period. Davis Selected Advisers lifted its stake in shares of MGM Resorts International by 4.6% during the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock worth $690,253,000 after buying an additional 882,417 shares during the last quarter. Finally, Miracle Mile Advisors LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter worth about $2,010,000. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Stock Performance

NYSE MGM opened at $31.42 on Friday. The firm’s 50 day simple moving average is $34.02 and its 200 day simple moving average is $36.07. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 13.09, a P/E/G ratio of 0.98 and a beta of 2.18. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 1 year low of $29.99 and a 1 year high of $48.25.

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, beating 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, research analysts expect that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of the business’s stock in a transaction dated 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 purchase, the chief financial officer now owns 75,648 shares of the company’s stock, valued at $2,433,596.16. This trade represents a 15.23 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, 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 owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MGM. Canaccord Genuity Group reissued a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Leerink Partners lowered MGM Resorts International to a “market perform” rating in a research note on Thursday, February 13th. Argus raised MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Friday, February 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Capital One Financial increased their price objective on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.29.

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.