Mutual of America Capital Management LLC Sells 2,295 Shares of MGM Resorts International $MGM

Mutual of America Capital Management LLC trimmed its position in shares of MGM Resorts International (NYSE:MGM) by 8.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,685 shares of the company’s stock after selling 2,295 shares during the quarter. Mutual of America Capital Management LLC’s holdings in MGM Resorts International were worth $815,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MGM. Golden State Wealth Management LLC grew its stake in MGM Resorts International by 83.5% in the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company’s stock worth $30,000 after purchasing an additional 455 shares during the period. Bayforest Capital Ltd bought a new stake in shares of MGM Resorts International during the 1st quarter valued at $43,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of MGM Resorts International by 66.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company’s stock valued at $45,000 after buying an additional 529 shares in the last quarter. Quarry LP increased its stake in shares of MGM Resorts International by 24.1% in the 1st quarter. Quarry LP now owns 1,795 shares of the company’s stock worth $53,000 after acquiring an additional 349 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in MGM Resorts International by 27.5% during the 2nd quarter. UMB Bank n.a. now owns 2,061 shares of the company’s stock valued at $71,000 after acquiring an additional 445 shares during the period. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus cut their price objective on shares of MGM Resorts International from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, October 22nd. UBS Group dropped their price target on MGM Resorts International from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of MGM Resorts International in a research report on Wednesday, October 8th. Citigroup upgraded MGM Resorts International from a “hold” rating to a “strong-buy” rating and increased their target price for the company from $55.00 to $57.00 in a research note on Wednesday, July 9th. Finally, Truist Financial reduced their price target on shares of MGM Resorts International from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, MGM Resorts International currently has an average rating of “Moderate Buy” and an average target price of $48.50.

MGM Resorts International Stock Up 0.3%

MGM opened at $32.91 on Tuesday. The stock has a market cap of $8.96 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.48 and a beta of 1.67. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.18 and a current ratio of 1.22. The firm’s fifty day moving average is $35.13 and its 200 day moving average is $34.34. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $42.53.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, July 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.21. MGM Resorts International had a return on equity of 19.39% and a net margin of 3.13%.The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter last year, the company earned $0.86 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. On average, sell-side analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Activity

In related news, insider John Mcmanus sold 60,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $36.12, for a total value of $2,167,200.00. Following the sale, the insider directly owned 31,521 shares in the company, valued at approximately $1,138,538.52. The trade was a 65.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith A. Meister sold 242,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $35.42, for a total value of $8,571,640.00. Following the sale, the director directly owned 5,385,478 shares in the company, valued at $190,753,630.76. This trade represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.06% of the company’s stock.

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.