Caprock Group LLC Has $522,000 Stock Position in MGM Resorts International (NYSE:MGM)

Caprock Group LLC reduced its stake in shares of MGM Resorts International (NYSE:MGM) by 20.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 13,347 shares of the company’s stock after selling 3,387 shares during the quarter. Caprock Group LLC’s holdings in MGM Resorts International were worth $522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the stock. Marshall Wace LLP lifted its stake in shares of MGM Resorts International by 174.8% in the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after buying an additional 706,159 shares during the period. Maverick Capital Ltd. bought a new stake in shares of MGM Resorts International in the 2nd quarter worth approximately $1,211,000. Empower Advisory Group LLC lifted its position in shares of MGM Resorts International by 4.2% in the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after acquiring an additional 62,997 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of MGM Resorts International during the 2nd quarter worth approximately $3,314,000. Finally, Boston Partners raised its stake in shares of MGM Resorts International by 12.6% in the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after purchasing an additional 684,676 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on MGM. Truist Financial decreased their price target on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. JMP Securities dropped their price target on shares of MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating for the company in a research report on Thursday, October 31st. Stifel Nicolaus raised their price target on shares of MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Finally, Susquehanna raised their target price on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.15.

MGM Resorts International Price Performance

Shares of MGM stock opened at $37.80 on Friday. The stock’s fifty day moving average is $38.61 and its 200-day moving average is $39.74. 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 52 week low of $33.44 and a 52 week high of $48.24. The stock has a market capitalization of $11.25 billion, a PE ratio of 13.50, a PEG ratio of 2.66 and a beta of 2.23.

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

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the sale, the director now directly owns 5,738,478 shares in the company, valued at $210,716,912.16. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.13% of the stock is currently owned by company insiders.

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.