Teachers Retirement System of The State of Kentucky Sells 1,228 Shares of MGM Resorts International (NYSE:MGM)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of MGM Resorts International (NYSE:MGMGet Rating) by 4.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,228 shares of the company’s stock after selling 1,228 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in MGM Resorts International were worth $1,184,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MGM. State Street Corp grew its holdings in shares of MGM Resorts International by 3.3% in the fourth quarter. State Street Corp now owns 16,047,151 shares of the company’s stock worth $720,196,000 after purchasing an additional 517,377 shares during the last quarter. Southeastern Asset Management Inc. TN grew its holdings in shares of MGM Resorts International by 5.8% in the fourth quarter. Southeastern Asset Management Inc. TN now owns 5,846,629 shares of the company’s stock worth $262,397,000 after purchasing an additional 321,175 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of MGM Resorts International by 18.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,098,554 shares of the company’s stock worth $171,893,000 after purchasing an additional 639,019 shares during the last quarter. Invesco Ltd. grew its holdings in shares of MGM Resorts International by 8.6% in the first quarter. Invesco Ltd. now owns 4,018,367 shares of the company’s stock worth $168,530,000 after purchasing an additional 317,622 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of MGM Resorts International by 148.1% in the fourth quarter. Marshall Wace LLP now owns 2,930,320 shares of the company’s stock worth $131,513,000 after purchasing an additional 1,749,408 shares during the last quarter. Hedge funds and other institutional investors own 67.54% of the company’s stock.

Insiders Place Their Bets

In other MGM Resorts International news, COO Corey Ian Sanders sold 10,000 shares of MGM Resorts International stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $36.00, for a total transaction of $360,000.00. Following the sale, the chief operating officer now owns 280,273 shares of the company’s stock, valued at approximately $10,089,828. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Daniel J. Taylor sold 4,499 shares of MGM Resorts International stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $34.41, for a total transaction of $154,810.59. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Corey Ian Sanders sold 10,000 shares of MGM Resorts International stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $36.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now owns 280,273 shares in the company, valued at approximately $10,089,828. The disclosure for this sale can be found here. Insiders have acquired a total of 590,030 shares of company stock valued at $20,493,524 in the last 90 days. 2.13% of the stock is owned by insiders.

MGM Resorts International Price Performance

MGM Resorts International stock opened at $30.61 on Friday. The company’s fifty day moving average price is $33.39 and its 200 day moving average price is $35.27. MGM Resorts International has a 1 year low of $26.41 and a 1 year high of $51.17. The stock has a market capitalization of $12.03 billion, a P/E ratio of 4.29 and a beta of 2.11. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.63 and a current ratio of 1.65.

MGM Resorts International (NYSE:MGMGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.21). MGM Resorts International had a net margin of 27.33% and a return on equity of 1.44%. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.03 billion. As a group, equities research analysts anticipate that MGM Resorts International will post 0.04 earnings per share for the current fiscal year.

MGM Resorts International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, September 9th were paid a dividend of $0.0025 per share. The ex-dividend date was Thursday, September 8th. This represents a $0.01 annualized dividend and a yield of 0.03%. MGM Resorts International’s dividend payout ratio (DPR) is presently 0.14%.

Analyst Ratings Changes

MGM has been the topic of several recent research reports. Credit Suisse Group dropped their target price on shares of MGM Resorts International from $76.00 to $72.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th. Truist Financial increased their target price on shares of MGM Resorts International from $35.00 to $40.00 in a report on Thursday, August 4th. JMP Securities initiated coverage on shares of MGM Resorts International in a report on Tuesday, June 28th. They set an “outperform” rating and a $55.00 target price on the stock. StockNews.com cut shares of MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, July 15th. Finally, Citigroup increased their target price on shares of MGM Resorts International to $58.00 in a report on Tuesday, August 9th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $52.93.

MGM Resorts International Company Profile

(Get Rating)

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. 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.

See Also

Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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