Amundi Sells 295,899 Shares of MGM Resorts International $MGM

Amundi lowered its stake in MGM Resorts International (NYSE:MGM - Free Report) by 41.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 425,563 shares of the company's stock after selling 295,899 shares during the period. Amundi owned 0.17% of MGM Resorts International worth $20,346,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MGM. California State Teachers Retirement System grew its stake in shares of MGM Resorts International by 4,081.0% in the second quarter. California State Teachers Retirement System now owns 9,896,622 shares of the company's stock worth $473,157,000 after acquiring an additional 9,659,915 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of MGM Resorts International by 202.5% during the third quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company's stock valued at $292,772,000 after acquiring an additional 5,654,757 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of MGM Resorts International by 81.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company's stock worth $264,874,000 after purchasing an additional 3,429,946 shares during the last quarter. State Street Corp raised its position in shares of MGM Resorts International by 0.4% in the 4th quarter. State Street Corp now owns 7,517,622 shares of the company's stock worth $274,318,000 after purchasing an additional 30,962 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in MGM Resorts International by 3.4% in the 3rd quarter. Invesco Ltd. now owns 5,940,465 shares of the company's stock worth $205,897,000 after purchasing an additional 194,114 shares in the last quarter. Institutional investors own 68.11% of the company's stock.

MGM Resorts International Stock Performance

Shares of NYSE MGM opened at $40.02 on Friday. The firm's 50-day moving average price is $44.19 and its 200-day moving average price is $41.63. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 1.80. The company has a market cap of $10.07 billion, a PE ratio of 24.25, a PEG ratio of 2.08 and a beta of 1.28. MGM Resorts International has a 52-week low of $29.18 and a 52-week high of $51.59.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. The firm had revenue of $4.45 billion during the quarter, compared to analysts' expectations of $4.42 billion. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The firm's quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 earnings per share. As a group, analysts anticipate that MGM Resorts International will post 1.96 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group cut their price objective on shares of MGM Resorts International from $50.00 to $46.00 and set a "neutral" rating on the stock in a research report on Friday. Susquehanna lifted their target price on shares of MGM Resorts International from $52.00 to $53.00 and gave the stock a "positive" rating in a report on Wednesday, July 29th. Truist Financial upgraded shares of MGM Resorts International from a "hold" rating to a "buy" rating and upped their target price for the stock from $42.00 to $55.00 in a research note on Wednesday, May 27th. The Goldman Sachs Group reiterated a "sell" rating and set a $43.00 price target on shares of MGM Resorts International in a report on Wednesday, July 15th. Finally, Citigroup raised their price target on shares of MGM Resorts International from $40.00 to $48.00 and gave the company a "neutral" rating in a research report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $53.25.

About MGM Resorts International

MGM Resorts International is a global hospitality and entertainment company that owns and operates destination resorts, casinos, hotels, restaurants, convention facilities and live-entertainment venues. Its properties offer casino gaming, hotel accommodations, dining, nightlife, retail, spa services, sporting events and other leisure activities.

The company operates a portfolio of resorts in Las Vegas and other U.S. markets, including properties associated with brands such as MGM Grand, Bellagio, ARIA, Mandalay Bay, Park MGM, New York-New York and MGM National Harbor.

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