QRG Capital Management Inc. Sells 10,662 Shares of MGM Resorts International (NYSE:MGM)

QRG Capital Management Inc. trimmed its position in shares of MGM Resorts International (NYSE:MGM) by 10.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,433 shares of the company’s stock after selling 10,662 shares during the period. QRG Capital Management Inc.’s holdings in MGM Resorts International were worth $3,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. HG Vora Capital Management LLC bought a new stake in shares of MGM Resorts International in the 3rd quarter worth about $97,725,000. Goldentree Asset Management LP grew its position in 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 worth $117,270,000 after acquiring an additional 1,390,599 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in MGM Resorts International in the third quarter worth about $17,622,000. ArrowMark Colorado Holdings LLC increased its stake in MGM Resorts International by 207.5% during the third quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company’s stock worth $25,662,000 after acquiring an additional 442,975 shares during the last quarter. Finally, KBC Group NV raised its position in MGM Resorts International by 3,041.1% during the fourth quarter. KBC Group NV now owns 388,047 shares of the company’s stock valued at $13,446,000 after purchasing an additional 375,693 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other MGM Resorts International 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 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 $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by corporate insiders.

MGM Resorts International Trading Up 0.3 %

NYSE MGM opened at $34.76 on Friday. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 0.98 and a beta of 2.20. The company’s 50-day simple moving average is $34.62 and its two-hundred day simple moving average is $36.74.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Stifel Nicolaus boosted their target price on MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Macquarie reissued an “outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a research note on Thursday, February 13th. JMP Securities restated a “market outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a report on Thursday, February 13th. Citigroup upped their price target on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Morgan Stanley raised their price objective on shares of MGM Resorts International from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Monday, February 24th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.29.

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.