MGM Resorts International (NYSE:MGM) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its position in MGM Resorts International (NYSE:MGM) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,753 shares of the company’s stock after selling 1,111 shares during the quarter. Kentucky Retirement Systems’ holdings in MGM Resorts International were worth $980,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MGM. Texas Permanent School Fund Corp raised its stake in MGM Resorts International by 0.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock valued at $2,667,000 after acquiring an additional 245 shares during the last quarter. Regatta Capital Group LLC raised its stake in shares of MGM Resorts International by 1.8% during the fourth quarter. Regatta Capital Group LLC now owns 13,753 shares of the company’s stock worth $614,000 after purchasing an additional 247 shares during the last quarter. Mendota Financial Group LLC lifted its holdings in shares of MGM Resorts International by 36.0% during the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after purchasing an additional 266 shares during the period. Lindbrook Capital LLC grew its position in MGM Resorts International by 8.2% in the 1st quarter. Lindbrook Capital LLC now owns 3,550 shares of the company’s stock valued at $168,000 after buying an additional 268 shares during the last quarter. Finally, Sandy Spring Bank increased its stake in MGM Resorts International by 33.7% in the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock valued at $51,000 after buying an additional 288 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of MGM Resorts International from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Wells Fargo & Company lowered their price objective on MGM Resorts International from $56.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. StockNews.com downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. JMP Securities raised their target price on MGM Resorts International from $58.00 to $59.00 and gave the company a “market outperform” rating in a report on Wednesday, July 17th. Finally, Barclays upped their price target on shares of MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy 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 $54.66.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 139,300 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $40.44, for a total value of $5,633,292.00. Following the completion of the transaction, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Alexis Herman sold 4,344 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $41.50, for a total transaction of $180,276.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Keith A. Meister sold 139,300 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the completion of the sale, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The disclosure for this sale can be found here. Insiders have sold 147,988 shares of company stock valued at $5,991,759 in the last ninety days. Insiders own 2.13% of the company’s stock.

MGM Resorts International Price Performance

NYSE:MGM traded up $1.11 during trading hours on Monday, reaching $42.95. 1,698,744 shares of the company traded hands, compared to its average volume of 3,699,896. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. The firm’s 50-day moving average is $42.02 and its 200-day moving average is $42.83. The stock has a market cap of $13.47 billion, a P/E ratio of 16.09, a P/E/G ratio of 0.87 and a beta of 2.24. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. Equities research analysts expect that MGM Resorts International will post 3 earnings per share for the current fiscal year.

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.