QRG Capital Management Inc. Has $3.84 Million Holdings in MGM Resorts International (NYSE:MGM)

QRG Capital Management Inc. lessened its position in shares of MGM Resorts International (NYSE:MGM) by 53.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 98,095 shares of the company’s stock after selling 112,585 shares during the period. QRG Capital Management Inc.’s holdings in MGM Resorts International were worth $3,835,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MGM. Robeco Institutional Asset Management B.V. raised its position in shares of MGM Resorts International by 58.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 163,120 shares of the company’s stock worth $6,376,000 after acquiring an additional 60,377 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in MGM Resorts International by 4.8% in the third quarter. Janney Montgomery Scott LLC now owns 71,021 shares of the company’s stock worth $2,776,000 after purchasing an additional 3,285 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in MGM Resorts International by 12.6% in the third quarter. Farther Finance Advisors LLC now owns 9,685 shares of the company’s stock valued at $379,000 after buying an additional 1,084 shares during the period. Americana Partners LLC bought a new position in shares of MGM Resorts International during the 3rd quarter worth approximately $304,000. Finally, Sippican Capital Advisors grew its position in shares of MGM Resorts International by 1.8% during the 3rd quarter. Sippican Capital Advisors now owns 51,487 shares of the company’s stock worth $2,013,000 after buying an additional 919 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $37.43 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a 50-day moving average of $38.35 and a 200-day moving average of $40.04. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The company has a market cap of $11.14 billion, a P/E ratio of 13.37, a P/E/G ratio of 2.60 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. MGM Resorts International’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 EPS. Equities research analysts forecast that MGM Resorts International will post 2.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MGM. Susquehanna boosted their target price on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. JMP Securities reduced their target price on MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating for the company in a research note on Thursday, October 31st. Macquarie dropped their price target on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus raised their price objective on MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Morgan Stanley upped their target price on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and an average price target of $53.15.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the sale, the director now directly owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.83% of the company’s stock.

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.