Teacher Retirement System of Texas Has $1.25 Million Position in MGM Resorts International $MGM

Teacher Retirement System of Texas increased its stake in shares of MGM Resorts International (NYSE:MGM) by 10.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,239 shares of the company’s stock after purchasing an additional 3,551 shares during the quarter. Teacher Retirement System of Texas’ holdings in MGM Resorts International were worth $1,246,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of MGM Resorts International by 66.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company’s stock worth $45,000 after purchasing an additional 529 shares during the period. Bayforest Capital Ltd acquired a new stake in shares of MGM Resorts International during the first quarter worth approximately $43,000. Quarry LP boosted its holdings in shares of MGM Resorts International by 24.1% during the first quarter. Quarry LP now owns 1,795 shares of the company’s stock worth $53,000 after purchasing an additional 349 shares during the period. UMB Bank n.a. boosted its holdings in shares of MGM Resorts International by 27.5% during the second quarter. UMB Bank n.a. now owns 2,061 shares of the company’s stock worth $71,000 after purchasing an additional 445 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of MGM Resorts International during the first quarter worth approximately $79,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Keith A. Meister sold 242,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $35.42, for a total value of $8,571,640.00. Following the transaction, the director owned 5,385,478 shares of the company’s stock, valued at $190,753,630.76. This trade represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Mcmanus sold 60,000 shares of MGM Resorts International stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $36.12, for a total transaction of $2,167,200.00. Following the completion of the transaction, the insider directly owned 31,521 shares in the company, valued at approximately $1,138,538.52. This represents a 65.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Truist Financial reduced their target price on shares of MGM Resorts International from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Citigroup reduced their target price on shares of MGM Resorts International from $51.00 to $47.50 and set a “buy” rating for the company in a research note on Thursday, October 30th. Morgan Stanley lifted their target price on shares of MGM Resorts International from $41.00 to $43.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. The Goldman Sachs Group reiterated a “sell” rating and issued a $31.00 target price on shares of MGM Resorts International in a research note on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of MGM Resorts International from $54.00 to $53.00 in a research note on Monday, September 22nd. Fourteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.58.

MGM Resorts International Trading Up 0.4%

NYSE:MGM opened at $31.99 on Thursday. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $41.32. The firm has a market cap of $8.75 billion, a price-to-earnings ratio of 199.94, a P/E/G ratio of 1.40 and a beta of 1.67. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 1.67. The company’s 50 day moving average is $34.30 and its 200-day moving average is $34.47.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). MGM Resorts International had a net margin of 0.40% and a return on equity of 16.95%. The firm had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the prior year, the business earned $0.54 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts anticipate that MGM Resorts International will post 2.21 EPS 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.