MGM Resorts International (NYSE:MGM) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its position in MGM Resorts International (NYSE:MGM) by 15.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,602 shares of the company’s stock after selling 3,651 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in MGM Resorts International were worth $766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MGM. International Assets Investment Management LLC purchased a new stake in MGM Resorts International during the 2nd quarter valued at about $28,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of MGM Resorts International during the third quarter worth about $28,000. Eastern Bank purchased a new stake in MGM Resorts International in the third quarter valued at approximately $35,000. UMB Bank n.a. increased its holdings in MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after buying an additional 237 shares during the period. Finally, Brooklyn Investment Group purchased a new position in MGM Resorts International during the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Mizuho cut their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their price target on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Wells Fargo & Company decreased their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Barclays dropped their target price on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Finally, UBS Group raised MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and an average target price of $52.54.

MGM Resorts International Stock Down 4.4 %

Shares of NYSE MGM opened at $33.80 on Thursday. The firm has a market cap of $10.06 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20. The company’s 50-day simple moving average is $38.16 and its 200-day simple moving average is $39.31. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts predict that MGM Resorts International will post 2.48 EPS for the current fiscal year.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.13% of the stock is owned by company insiders.

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.