Qsemble Capital Management LP Has $378,000 Stock Position in MGM Resorts International $MGM

Qsemble Capital Management LP lowered its stake in shares of MGM Resorts International (NYSE:MGM) by 90.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,902 shares of the company’s stock after selling 71,144 shares during the quarter. Qsemble Capital Management LP’s holdings in MGM Resorts International were worth $378,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MGM. Oppenheimer Asset Management Inc. lifted its position in shares of MGM Resorts International by 11.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 27,302 shares of the company’s stock worth $1,305,000 after purchasing an additional 2,905 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in shares of MGM Resorts International by 7.7% in the second quarter. Vontobel Holding Ltd. now owns 17,979 shares of the company’s stock valued at $860,000 after purchasing an additional 1,283 shares in the last quarter. Tema ETFs LLC increased its holdings in shares of MGM Resorts International by 10.6% in the second quarter. Tema ETFs LLC now owns 3,016 shares of the company’s stock valued at $144,000 after purchasing an additional 290 shares in the last quarter. Chemistry Wealth Management LLC raised its position in MGM Resorts International by 23.2% in the 2nd quarter. Chemistry Wealth Management LLC now owns 34,181 shares of the company’s stock worth $1,634,000 after purchasing an additional 6,435 shares during the last quarter. Finally, Czech National Bank raised its position in MGM Resorts International by 4.5% in the 2nd quarter. Czech National Bank now owns 54,619 shares of the company’s stock worth $2,611,000 after purchasing an additional 2,364 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on MGM shares. KeyCorp upgraded MGM Resorts International from a “sector weight” rating to an “overweight” rating and set a $117.00 price objective on the stock in a research report on Monday, April 27th. The Goldman Sachs Group restated a “sell” rating and set a $43.00 target price on shares of MGM Resorts International in a research report on Wednesday, July 15th. Jefferies Financial Group reaffirmed a “hold” rating on shares of MGM Resorts International in a research note on Thursday, July 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $49.00 price target (up from $48.00) on shares of MGM Resorts International in a report on Monday, June 15th. Finally, Weiss Ratings upgraded MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and an average target price of $52.49.

Insider Activity at MGM Resorts International

In related news, Director Daniel J. Taylor sold 6,675 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $38.44, for a total value of $256,587.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.38% of the stock is currently owned by company insiders.

MGM Resorts International Price Performance

Shares of MGM stock opened at $44.03 on Friday. The firm’s 50 day moving average price is $46.37 and its two-hundred day moving average price is $40.67. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.30 and a current ratio of 1.34. MGM Resorts International has a 52-week low of $29.18 and a 52-week high of $51.59. The stock has a market cap of $11.08 billion, a PE ratio of 26.69 and a beta of 1.31.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.42 billion. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS. As a group, analysts forecast that MGM Resorts International will post 1.96 EPS for the current year.

About MGM Resorts International

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.