New York Life Investment Management LLC Has $1.70 Million Stake in MGM Resorts International (NYSE:MGM)

New York Life Investment Management LLC lowered its holdings in MGM Resorts International (NYSE:MGM) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,991 shares of the company’s stock after selling 2,603 shares during the quarter. New York Life Investment Management LLC’s holdings in MGM Resorts International were worth $1,697,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. RB Capital Management LLC grew its holdings in MGM Resorts International by 6.6% during the fourth quarter. RB Capital Management LLC now owns 17,040 shares of the company’s stock worth $761,000 after buying an additional 1,060 shares in the last quarter. Bamco Inc. NY grew its stake in shares of MGM Resorts International by 4.5% in the 3rd quarter. Bamco Inc. NY now owns 1,912,447 shares of the company’s stock worth $70,302,000 after acquiring an additional 82,134 shares in the last quarter. Black Swift Group LLC raised its holdings in shares of MGM Resorts International by 133.3% in the third quarter. Black Swift Group LLC now owns 105,000 shares of the company’s stock valued at $3,860,000 after purchasing an additional 60,000 shares during the last quarter. Allworth Financial LP boosted its holdings in MGM Resorts International by 122.0% during the fourth quarter. Allworth Financial LP now owns 6,843 shares of the company’s stock worth $306,000 after purchasing an additional 3,760 shares during the last quarter. Finally, Boston Partners grew its position in MGM Resorts International by 1,447.6% in the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock worth $145,916,000 after purchasing an additional 3,723,659 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on MGM shares. Mizuho lifted their target price on shares of MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. TheStreet raised MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Susquehanna raised MGM Resorts International from a “neutral” rating to a “positive” rating and raised their target price for the company from $46.00 to $54.00 in a research report on Thursday, May 2nd. StockNews.com raised shares of MGM Resorts International from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of MGM Resorts International from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.83.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the sale, the director now owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.83% of the stock is owned by corporate insiders.

MGM Resorts International Price Performance

MGM Resorts International stock opened at $41.01 on Tuesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. MGM Resorts International has a one year low of $34.12 and a one year high of $51.35. The firm has a market capitalization of $12.86 billion, a P/E ratio of 15.77, a PEG ratio of 0.95 and a beta of 2.22. The business has a fifty day moving average price of $43.50 and a 200-day moving average price of $42.36.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18. The business had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.24 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 EPS. As a group, equities research analysts forecast that MGM Resorts International will post 2.76 EPS for the current year.

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.