Teachers Retirement System of The State of Kentucky Has $1.14 Million Stock Position in MGM Resorts International (NYSE:MGM)

Teachers Retirement System of The State of Kentucky lessened its stake in shares of MGM Resorts International (NYSE:MGM) by 12.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,531 shares of the company’s stock after selling 3,565 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in MGM Resorts International were worth $1,141,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. CVA Family Office LLC bought a new position in MGM Resorts International in the fourth quarter worth approximately $28,000. Sunbelt Securities Inc. lifted its holdings in shares of MGM Resorts International by 510.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after purchasing an additional 1,000 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of MGM Resorts International by 49.7% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock worth $49,000 after purchasing an additional 367 shares in the last quarter. Sandy Spring Bank grew its position in MGM Resorts International by 33.7% in the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock valued at $51,000 after purchasing an additional 288 shares during the period. Finally, RIA Advisory Group LLC bought a new stake in shares of MGM Resorts International during the fourth quarter worth about $83,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Stock Up 0.7 %

MGM Resorts International stock opened at $42.00 on Monday. The firm has a 50 day simple moving average of $40.82 and a 200 day simple moving average of $42.87. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35. The firm has a market capitalization of $13.17 billion, a price-to-earnings ratio of 16.15, a P/E/G ratio of 0.91 and a beta of 2.24.

MGM Resorts International (NYSE:MGM) last announced its quarterly 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. The company 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 quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 earnings per share. On average, analysts predict that MGM Resorts International will post 2.9 earnings per share for the current year.

Insider Transactions at MGM Resorts International

In related news, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $41.50, for a total transaction of $180,276.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Alexis Herman sold 4,344 shares of MGM Resorts International stock in a transaction on Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $40.44, for a total value of $5,633,292.00. Following the completion of the transaction, the director now owns 5,859,478 shares in the company, valued at $236,957,290.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,988 shares of company stock valued at $5,991,759. 2.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MGM has been the topic of a number of recent research reports. Mizuho raised their target price on MGM Resorts International from $61.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. JMP Securities lifted their price objective on shares of MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a report on Monday, May 6th. Susquehanna upgraded shares of MGM Resorts International from a “neutral” rating to a “positive” rating and increased their target price for the company from $46.00 to $54.00 in a report on Thursday, May 2nd. Barclays boosted their price target on shares of MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.83.

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.