Quent Capital LLC Decreases Position in MGM Resorts International (NYSE:MGM)

Quent Capital LLC reduced its position in shares of MGM Resorts International (NYSE:MGM) by 19.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,918 shares of the company’s stock after selling 465 shares during the period. Quent Capital LLC’s holdings in MGM Resorts International were worth $66,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC raised its position in shares of MGM Resorts International by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after buying an additional 90,645 shares during the last quarter. Goldentree Asset Management LP lifted its stake in MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after purchasing an additional 1,390,599 shares in the last quarter. HG Vora Capital Management LLC acquired a new position in shares of MGM Resorts International during the 3rd quarter worth approximately $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of MGM Resorts International by 5.7% in the third 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 purchasing an additional 123,124 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of MGM Resorts International by 5.0% in the third quarter. FMR LLC now owns 1,681,699 shares of the company’s stock valued at $65,738,000 after purchasing an additional 79,486 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Up 17.5 %

Shares of MGM opened at $40.38 on Friday. The company’s 50-day simple moving average is $34.32 and its 200-day simple moving average is $36.83. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24. The stock has a market capitalization of $12.02 billion, a PE ratio of 14.42, a P/E/G ratio of 2.94 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. Analysts forecast that MGM Resorts International will post 2.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

MGM has been the subject of several analyst reports. Jefferies Financial Group dropped their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company raised their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday. Stifel Nicolaus boosted their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday. Susquehanna Bancshares raised their price target on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday. Finally, Truist Financial decreased their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.47.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.