Susquehanna Fundamental Investments LLC Lowers Stock Holdings in MGM Resorts International (NYSE:MGM)

Susquehanna Fundamental Investments LLC trimmed its position in shares of MGM Resorts International (NYSE:MGM) by 72.4% in the second quarter, HoldingsChannel.com reports. The fund owned 29,300 shares of the company’s stock after selling 76,699 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in MGM Resorts International were worth $1,302,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MGM. Stifel Financial Corp boosted its holdings in MGM Resorts International by 1.9% during the 4th quarter. Stifel Financial Corp now owns 182,366 shares of the company’s stock valued at $8,148,000 after acquiring an additional 3,358 shares during the period. TFO Wealth Partners LLC boosted its stake in shares of MGM Resorts International by 23,030.0% in the 4th quarter. TFO Wealth Partners LLC now owns 2,313 shares of the company’s stock valued at $103,000 after buying an additional 2,303 shares during the period. Alberta Investment Management Corp purchased a new position in shares of MGM Resorts International in the 4th quarter valued at about $210,000. KBC Group NV boosted its stake in shares of MGM Resorts International by 229.3% in the 4th quarter. KBC Group NV now owns 248,139 shares of the company’s stock valued at $11,087,000 after buying an additional 172,791 shares during the period. Finally, NEOS Investment Management LLC boosted its stake in shares of MGM Resorts International by 13.4% in the 4th quarter. NEOS Investment Management LLC now owns 7,325 shares of the company’s stock valued at $327,000 after buying an additional 863 shares during the period. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Hornbuckle bought 58,900 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $33.73 per share, for a total transaction of $1,986,697.00. Following the acquisition, the chief executive officer now owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 216,400 shares of company stock valued at $7,312,197. Company insiders own 2.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday. Morgan Stanley decreased their price objective on MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. UBS Group upgraded MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Finally, Susquehanna boosted their target price on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.93.

MGM Resorts International Trading Down 1.2 %

MGM opened at $38.62 on Wednesday. The firm has a market cap of $12.11 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 0.68 and a beta of 2.22. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24. The business’s 50 day moving average is $38.02 and its two-hundred day moving average is $41.01. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.65.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.66 by $0.20. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 earnings per share. On average, research analysts predict that MGM Resorts International will post 2.63 EPS for the current year.

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.