Mutual of America Capital Management LLC Sells 1,322 Shares of MGM Resorts International (NYSE:MGM)

Mutual of America Capital Management LLC reduced its holdings in shares of MGM Resorts International (NYSE:MGM) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,069 shares of the company’s stock after selling 1,322 shares during the quarter. Mutual of America Capital Management LLC’s holdings in MGM Resorts International were worth $938,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. HG Vora Capital Management LLC bought a new position in shares of MGM Resorts International in the third quarter worth about $97,725,000. Goldentree Asset Management LP increased its position in MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after purchasing an additional 1,390,599 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in MGM Resorts International in the 3rd quarter valued at approximately $17,622,000. ArrowMark Colorado Holdings LLC boosted its position in MGM Resorts International by 207.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company’s stock valued at $25,662,000 after buying an additional 442,975 shares in the last quarter. Finally, KBC Group NV boosted its position in MGM Resorts International by 3,041.1% in the fourth quarter. KBC Group NV now owns 388,047 shares of the company’s stock valued at $13,446,000 after buying an additional 375,693 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MGM has been the subject of a number of research reports. Wells Fargo & Company increased their price target on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Argus upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Friday, February 14th. Jefferies Financial Group cut their price target on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley lifted their target price on shares of MGM Resorts International from $39.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Monday, February 24th. Six investment analysts have rated the stock with a hold rating and sixteen have given 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 $51.29.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock opened at $32.05 on Monday. The business has a 50-day moving average price of $34.40 and a two-hundred day moving average price of $36.48. MGM Resorts International has a 1-year low of $30.69 and a 1-year high of $48.24. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The company has a market cap of $9.15 billion, a P/E ratio of 13.35, a PEG ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, analysts anticipate that MGM Resorts International will post 2.21 EPS for the current year.

Insider Transactions at MGM Resorts International

In related news, CAO Todd Meinert sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction 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 completion of the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.83% 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.