Maryland State Retirement & Pension System Lowers Stock Position in MGM Resorts International (NYSE:MGM)

Maryland State Retirement & Pension System trimmed its holdings in shares of MGM Resorts International (NYSE:MGM) by 7.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,932 shares of the company’s stock after selling 994 shares during the quarter. Maryland State Retirement & Pension System’s holdings in MGM Resorts International were worth $448,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MGM. American Assets Investment Management LLC raised its holdings in MGM Resorts International by 26.5% in the fourth quarter. American Assets Investment Management LLC now owns 31,565 shares of the company’s stock worth $1,094,000 after purchasing an additional 6,619 shares in the last quarter. Cibc World Markets Corp raised its stake in shares of MGM Resorts International by 13.2% during the 4th quarter. Cibc World Markets Corp now owns 35,770 shares of the company’s stock worth $1,239,000 after acquiring an additional 4,184 shares in the last quarter. American Assets Capital Advisers LLC lifted its position in MGM Resorts International by 10.8% during the fourth quarter. American Assets Capital Advisers LLC now owns 520,334 shares of the company’s stock valued at $18,030,000 after acquiring an additional 50,782 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in MGM Resorts International by 0.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 146,417 shares of the company’s stock valued at $5,073,000 after acquiring an additional 469 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its holdings in MGM Resorts International by 11.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 10,114 shares of the company’s stock worth $350,000 after purchasing an additional 1,071 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Price Performance

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

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, equities analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. BTIG Research lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Truist Financial lowered their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Citigroup upped their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Susquehanna Bancshares lifted their target price on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Finally, Leerink Partners lowered shares of MGM Resorts International to a “market perform” rating in a research note 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.com, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

Insiders Place Their Bets

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the transaction, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was purchased at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the purchase, the chief financial officer now directly owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. The trade was a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.13% of the stock is currently owned by company insiders.

About MGM Resorts International

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.