California State Teachers Retirement System Decreases Stock Holdings in MGM Resorts International (NYSE:MGM)

California State Teachers Retirement System reduced its stake in shares of MGM Resorts International (NYSE:MGMFree Report) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 439,870 shares of the company’s stock after selling 18,670 shares during the period. California State Teachers Retirement System owned 0.13% of MGM Resorts International worth $19,653,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in MGM Resorts International by 23.0% during the third quarter. Victory Capital Management Inc. now owns 153,344 shares of the company’s stock worth $5,637,000 after buying an additional 28,639 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of MGM Resorts International by 87.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 17,922 shares of the company’s stock worth $659,000 after acquiring an additional 8,346 shares during the period. Amalgamated Bank boosted its position in shares of MGM Resorts International by 25.6% during the 3rd quarter. Amalgamated Bank now owns 104,028 shares of the company’s stock valued at $3,824,000 after acquiring an additional 21,185 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of MGM Resorts International by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 80,324 shares of the company’s stock valued at $2,953,000 after purchasing an additional 302 shares during the period. Finally, Atria Wealth Solutions Inc. increased its position in MGM Resorts International by 11.2% during the third quarter. Atria Wealth Solutions Inc. now owns 22,212 shares of the company’s stock worth $817,000 after purchasing an additional 2,243 shares during the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction on 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 transaction, the director now owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Keith A. Meister sold 325,000 shares of the 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 transaction, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $41.50, for a total value of $180,276.00. The disclosure for this sale can be found here. In the last three months, insiders sold 333,688 shares of company stock valued at $14,300,967. Insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $40.09 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $12.58 billion, a PE ratio of 15.42, a P/E/G ratio of 0.88 and a beta of 2.24. The firm has a 50 day moving average of $42.10 and a two-hundred day moving average of $42.78. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35.

MGM Resorts International (NYSE:MGMGet Free Report) last issued its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The firm had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the company earned $0.44 earnings per share. The firm’s revenue was up 13.2% compared to the same quarter last year. On average, research analysts predict that MGM Resorts International will post 2.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MGM. Bank Of America (Bofa) increased their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Mizuho raised their target price on MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. TheStreet raised MGM Resorts International from a “c+” rating to a “b-” rating in a research note on Tuesday, February 13th. Macquarie reissued an “outperform” rating and set a $58.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. Finally, Barclays boosted their price objective on shares of MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

Check Out Our Latest Research Report on MGM Resorts International

MGM Resorts International Company Profile

(Free Report)

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.

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

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