AQR Capital Management LLC Sells 30,848 Shares of MGM Resorts International (NYSE:MGM)

AQR Capital Management LLC cut its holdings in shares of MGM Resorts International (NYSE:MGM) by 67.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,981 shares of the company’s stock after selling 30,848 shares during the period. AQR Capital Management LLC’s holdings in MGM Resorts International were worth $660,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in shares of MGM Resorts International during the second quarter worth $28,000. EverSource Wealth Advisors LLC increased its position in shares of MGM Resorts International by 60.7% during the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after purchasing an additional 329 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of MGM Resorts International during the second quarter valued at $49,000. Finally, Centaurus Financial Inc. purchased a new stake in shares of MGM Resorts International during the fourth quarter valued at $111,000. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $39.66 on Monday. The company has a market cap of $12.44 billion, a PE ratio of 15.25, a PEG ratio of 0.92 and a beta of 2.23. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24. The company’s 50-day moving average is $37.77 and its two-hundred day moving average is $40.70. The company has a current ratio of 1.47, a quick ratio of 1.42 and a debt-to-equity ratio of 1.65.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.66 by $0.20. The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. Equities analysts anticipate that MGM Resorts International will post 2.55 earnings per share for the current year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, CFO Jonathan S. Halkyard purchased 10,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $34.00 per share, with a total value of $340,000.00. Following the acquisition, the chief financial officer now directly owns 38,299 shares of the company’s stock, valued at $1,302,166. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Jonathan S. Halkyard bought 10,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $34.00 per share, with a total value of $340,000.00. Following the completion of the acquisition, the chief financial officer now owns 38,299 shares of the company’s stock, valued at $1,302,166. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William Hornbuckle bought 58,900 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average cost of $33.73 per share, with a total value of $1,986,697.00. Following the acquisition, the chief executive officer now directly owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 216,400 shares of company stock valued at $7,312,197 in the last quarter. 2.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MGM has been the topic of several recent research reports. Susquehanna upped their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price target on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company lowered their price target on shares of MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Macquarie lowered their target price on shares of 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. Finally, UBS Group raised shares of MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.21.

MGM Resorts International Company 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.