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

Kentucky Retirement Systems lessened its stake in MGM Resorts International (NYSE:MGM) by 14.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,083 shares of the company’s stock after selling 2,827 shares during the quarter. Kentucky Retirement Systems’ holdings in MGM Resorts International were worth $629,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of MGM. International Assets Investment Management LLC acquired a new stake in shares of MGM Resorts International in the 2nd quarter valued at about $28,000. Eastern Bank bought a new stake in shares of MGM Resorts International during the 3rd quarter valued at about $35,000. EverSource Wealth Advisors LLC grew its position in shares of MGM Resorts International by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after buying an additional 329 shares during the last quarter. UMB Bank n.a. grew its position in shares of MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares during the last quarter. Finally, Planning Capital Management Corp bought a new stake in shares of MGM Resorts International during the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Up 0.3 %

MGM stock opened at $37.26 on Wednesday. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24. The firm has a market cap of $11.09 billion, a PE ratio of 13.31, a P/E/G ratio of 2.66 and a beta of 2.23. The firm has a 50 day simple moving average of $38.53 and a 200 day simple moving average of $39.76. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts forecast that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Susquehanna boosted their price objective on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. JMP Securities lowered their price objective on shares of MGM Resorts International from $56.00 to $54.00 and set a “market outperform” rating for the company in a research report on Thursday, October 31st. Mizuho decreased their target price on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Macquarie decreased their target price on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley upped their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, MGM Resorts International has a consensus rating of “Moderate Buy” and an average price target of $53.15.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This represents a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.83% of the company’s stock.

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.