Quantinno Capital Management LP Has $1.96 Million Stock Position in MGM Resorts International (NYSE:MGM)

Quantinno Capital Management LP reduced its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 43.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,421 shares of the company's stock after selling 42,649 shares during the quarter. Quantinno Capital Management LP's holdings in MGM Resorts International were worth $1,955,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MGM. Mufg Securities Americas Inc. bought a new stake in shares of MGM Resorts International during the 4th quarter worth $116,000. NorthRock Partners LLC bought a new stake in shares of MGM Resorts International during the 4th quarter worth $217,000. Northeast Financial Consultants Inc boosted its stake in shares of MGM Resorts International by 4.7% during the 4th quarter. Northeast Financial Consultants Inc now owns 11,250 shares of the company's stock worth $390,000 after acquiring an additional 500 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of MGM Resorts International during the 4th quarter worth $1,239,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of MGM Resorts International by 3.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,701 shares of the company's stock worth $648,000 after acquiring an additional 617 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, CFO Jonathan S. Halkyard purchased 10,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the transaction, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. This trade represents a 15.23% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel J. Taylor sold 5,261 shares of MGM Resorts International stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $34.93, for a total value of $183,766.73. The disclosure for this sale can be found here. Corporate insiders own 3.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wedbush reissued an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Stifel Nicolaus decreased their target price on MGM Resorts International from $50.00 to $44.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Leerink Partners cut MGM Resorts International to a "market perform" rating in a research report on Thursday, February 13th. JMP Securities decreased their target price on MGM Resorts International from $50.00 to $45.00 and set a "market outperform" rating for the company in a research report on Thursday, April 17th. Finally, Macquarie decreased their target price on MGM Resorts International from $50.00 to $48.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, MGM Resorts International has an average rating of "Moderate Buy" and an average price target of $48.94.

MGM Resorts International Stock Up 0.1%

NYSE MGM traded up $0.02 during trading on Friday, hitting $31.37. 2,979,621 shares of the company traded hands, compared to its average volume of 4,770,523. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $47.26. The business has a fifty day simple moving average of $30.94 and a 200 day simple moving average of $33.61. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $8.54 billion, a P/E ratio of 13.07, a PEG ratio of 0.98 and a beta of 1.78.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.19. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the company earned $0.74 earnings per share. The business's revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that MGM Resorts International will post 2.21 EPS for the current year.

MGM Resorts International announced that its board has authorized a share repurchase program on Wednesday, April 30th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 22.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

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.