Jacobs Levy Equity Management Inc. Has $15.13 Million Stock Position in MGM Resorts International (NYSE:MGM)

Jacobs Levy Equity Management Inc. lowered its stake in MGM Resorts International (NYSE:MGM - Free Report) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 436,564 shares of the company's stock after selling 14,251 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.15% of MGM Resorts International worth $15,127,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in MGM Resorts International in the 4th quarter worth approximately $88,033,000. Eminence Capital LP acquired a new stake in shares of MGM Resorts International in the fourth quarter worth $72,408,000. AQR Capital Management LLC grew its stake in MGM Resorts International by 12,726.8% in the 4th quarter. AQR Capital Management LLC now owns 1,278,965 shares of the company's stock valued at $44,316,000 after buying an additional 1,268,994 shares during the last quarter. Marshall Wace LLP boosted its position in shares of MGM Resorts International by 50.9% in the fourth quarter. Marshall Wace LLP now owns 3,233,718 shares of the company's stock valued at $112,048,000 after acquiring an additional 1,090,533 shares during the period. Finally, Invesco Ltd. raised its stake in MGM Resorts International by 22.5% during the 4th quarter. Invesco Ltd. now owns 5,785,343 shares of the company's stock valued at $200,462,000 after purchasing an additional 1,063,707 shares during the last quarter. Institutional investors own 68.11% of the company's stock.

Insiders Place Their Bets

In related news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares of the company's stock, valued at $692,509.84. This trade represents a 24.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Taylor sold 5,261 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $34.93, for a total transaction of $183,766.73. The disclosure for this sale can be found here. In the last three months, insiders sold 51,261 shares of company stock valued at $1,788,007. 3.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

MGM has been the subject of a number of research reports. Capital One Financial raised their price objective on MGM Resorts International from $52.00 to $56.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Mizuho increased their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. BTIG Research cut shares of MGM Resorts International from a "buy" rating to a "neutral" rating in a research note on Monday, February 3rd. Susquehanna lifted their price objective on MGM Resorts International from $45.00 to $50.00 and gave the company a "positive" rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company raised their target price on MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $48.94.

MGM Resorts International Price Performance

Shares of MGM stock traded down $0.43 during trading hours on Friday, reaching $33.96. 4,680,480 shares of the company were exchanged, compared to its average volume of 4,741,369. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $47.26. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The stock's fifty day moving average is $30.81 and its two-hundred day moving average is $33.87. The company has a market cap of $9.24 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 0.98 and a beta of 1.78.

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

MGM Resorts International declared that its board has initiated a share repurchase plan on Wednesday, April 30th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to purchase up to 22.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management 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.