MGM Resorts International (NYSE:MGM) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in shares of MGM Resorts International (NYSE:MGM) by 4.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 48,114 shares of the company’s stock after selling 2,143 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in MGM Resorts International were worth $1,667,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of MGM. Quest Partners LLC bought a new position in MGM Resorts International in the 3rd quarter valued at about $76,000. Larson Financial Group LLC boosted its holdings in shares of MGM Resorts International by 969.0% in the third quarter. Larson Financial Group LLC now owns 2,758 shares of the company’s stock valued at $108,000 after acquiring an additional 2,500 shares in the last quarter. Centaurus Financial Inc. increased its stake in shares of MGM Resorts International by 50.3% during the third quarter. Centaurus Financial Inc. now owns 3,733 shares of the company’s stock valued at $146,000 after acquiring an additional 1,250 shares during the period. Daiwa Securities Group Inc. raised its holdings in MGM Resorts International by 1.6% during the third quarter. Daiwa Securities Group Inc. now owns 28,466 shares of the company’s stock worth $1,113,000 after purchasing an additional 459 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in MGM Resorts International by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after purchasing an additional 90,645 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, CFO Jonathan S. Halkyard acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average price 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. The trade was a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

MGM Resorts International Price Performance

NYSE MGM opened at $32.03 on Wednesday. The company has a 50 day simple moving average of $34.00 and a 200-day simple moving average of $36.02. MGM Resorts International has a 52-week low of $29.99 and a 52-week high of $48.25. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. Equities research analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. BTIG Research lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Citigroup raised their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Morgan Stanley increased their target price on shares of MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. Mizuho lifted their price target on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, JMP Securities reiterated a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.29.

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.