Kentucky Retirement Systems Has $840,000 Holdings in MGM Resorts International (NYSE:MGM)

Kentucky Retirement Systems trimmed its holdings in MGM Resorts International (NYSE:MGM) by 8.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,910 shares of the company’s stock after selling 1,843 shares during the period. Kentucky Retirement Systems’ holdings in MGM Resorts International were worth $840,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in MGM. Capital World Investors increased its stake in MGM Resorts International by 17.7% during the 4th quarter. Capital World Investors now owns 6,551,310 shares of the company’s stock worth $292,713,000 after acquiring an additional 984,617 shares during the period. Hsbc Holdings PLC grew its holdings in shares of MGM Resorts International by 112.1% during the 4th quarter. Hsbc Holdings PLC now owns 1,505,982 shares of the company’s stock worth $67,466,000 after purchasing an additional 795,920 shares in the last quarter. Goldentree Asset Management LP bought a new position in shares of MGM Resorts International in the first quarter worth $35,726,000. Boston Partners raised its stake in MGM Resorts International by 12.6% in the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after purchasing an additional 684,676 shares in the last quarter. Finally, LSV Asset Management bought a new stake in MGM Resorts International during the second quarter worth about $21,149,000. 68.11% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO William Hornbuckle purchased 58,900 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $33.73 per share, with a total value of $1,986,697.00. Following the completion of the purchase, the chief executive officer now owns 377,112 shares in the company, valued at approximately $12,719,987.76. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Paul J. Salem bought 147,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the acquisition, the director now directly owns 1,702,500 shares in the company, valued at $57,544,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Hornbuckle purchased 58,900 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $33.73 per share, with a total value of $1,986,697.00. Following the completion of the acquisition, the chief executive officer now owns 377,112 shares in the company, valued at approximately $12,719,987.76. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 216,400 shares of company stock valued at $7,312,197. 2.13% of the stock is currently owned by company insiders.

MGM Resorts International Stock Down 1.2 %

Shares of NYSE MGM opened at $37.31 on Friday. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.42. The firm has a market cap of $11.70 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 0.64 and a beta of 2.22. The company has a 50 day simple moving average of $38.92 and a 200 day simple moving average of $41.21.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. MGM Resorts International’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. On average, research analysts forecast that MGM Resorts International will post 2.68 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. UBS Group upgraded shares of MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Susquehanna upped their target price on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Macquarie decreased their price target on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, BTIG Research began coverage on MGM Resorts International in a research report on Wednesday, July 3rd. They set a “buy” rating and a $52.00 price objective for the company. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.93.

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.