MGM Resorts International (NYSE:MGM) Stake Lessened by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its holdings in shares of MGM Resorts International (NYSE:MGM) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,225 shares of the company’s stock after selling 3,247 shares during the quarter. Retirement Systems of Alabama’s holdings in MGM Resorts International were worth $2,691,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Bamco Inc. NY grew its stake in MGM Resorts International by 4.5% during the 3rd quarter. Bamco Inc. NY now owns 1,912,447 shares of the company’s stock valued at $70,302,000 after acquiring an additional 82,134 shares in the last quarter. Black Swift Group LLC increased its stake in MGM Resorts International by 133.3% in the 3rd quarter. Black Swift Group LLC now owns 105,000 shares of the company’s stock valued at $3,860,000 after buying an additional 60,000 shares during the period. Allworth Financial LP lifted its position in MGM Resorts International by 122.0% in the 4th quarter. Allworth Financial LP now owns 6,843 shares of the company’s stock worth $306,000 after buying an additional 3,760 shares in the last quarter. Boston Partners boosted its stake in shares of MGM Resorts International by 1,447.6% during the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after buying an additional 3,723,659 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in shares of MGM Resorts International by 544.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock valued at $73,364,000 after acquiring an additional 1,686,267 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were 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 in the company, valued at $261,637,576.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Analyst Ratings Changes

MGM has been the subject of several recent research reports. JMP Securities increased their price objective on MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a report on Monday. Morgan Stanley lifted their price target on MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. StockNews.com upgraded MGM Resorts International from a “hold” rating to a “buy” rating in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Bank Of America (Bofa) increased their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

MGM Resorts International Stock Performance

Shares of MGM opened at $40.64 on Wednesday. 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 company’s fifty day moving average price is $43.48 and its 200 day moving average price is $42.40. The company has a market capitalization of $12.75 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 0.95 and a beta of 2.22.

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

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.