MGM Resorts International (NYSE:MGM) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its position in shares of MGM Resorts International (NYSE:MGM) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,200 shares of the company’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in MGM Resorts International were worth $423,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of MGM Resorts International by 0.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock worth $2,080,000 after purchasing an additional 309 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of MGM Resorts International by 5.4% during the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock worth $227,000 after purchasing an additional 333 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of MGM Resorts International by 1.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 28,466 shares of the company’s stock worth $1,113,000 after purchasing an additional 459 shares during the last quarter. Blueshift Asset Management LLC boosted its stake in shares of MGM Resorts International by 1.9% during the 3rd quarter. Blueshift Asset Management LLC now owns 25,436 shares of the company’s stock worth $994,000 after purchasing an additional 482 shares during the last quarter. Finally, Hilltop Holdings Inc. boosted its stake in shares of MGM Resorts International by 3.8% during the 3rd quarter. Hilltop Holdings Inc. now owns 13,198 shares of the company’s stock worth $516,000 after purchasing an additional 489 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Trading Up 0.8 %

Shares of MGM stock opened at $38.38 on Thursday. The stock has a market cap of $11.43 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 3.24 and a beta of 2.20. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24. The firm’s 50 day moving average price is $34.51 and its two-hundred day moving average price is $36.78.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, analysts anticipate that MGM Resorts International will post 2.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MGM. BTIG Research cut shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Jefferies Financial Group decreased their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Citigroup raised their target price on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Stifel Nicolaus raised their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Macquarie reissued an “outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.47.

Insider Activity

In other news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.83% of the company’s stock.

MGM Resorts International Company 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.