New York State Teachers Retirement System lowered its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 9.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 307,830 shares of the company's stock after selling 31,290 shares during the quarter. New York State Teachers Retirement System owned 0.09% of MGM Resorts International worth $13,754,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Tyler Stone Wealth Management acquired a new position in shares of MGM Resorts International in the 2nd quarter valued at $26,000. Mendota Financial Group LLC acquired a new position in shares of MGM Resorts International in the 3rd quarter valued at $27,000. International Assets Investment Management LLC acquired a new position in shares of MGM Resorts International in the 3rd quarter valued at $28,000. CVA Family Office LLC acquired a new position in shares of MGM Resorts International in the 4th quarter valued at $28,000. Finally, ICA Group Wealth Management LLC acquired a new position in shares of MGM Resorts International in the 4th quarter valued at $28,000. Institutional investors own 68.11% of the company's stock.
Insider Transactions at MGM Resorts International
In related news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the sale, the director now directly owns 6,098,778 shares of the company's stock, valued at $261,637,576.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.83% of the stock is currently owned by corporate insiders.
MGM Resorts International Price Performance
MGM stock traded down $1.73 during trading on Wednesday, hitting $44.68. The company had a trading volume of 3,056,002 shares, compared to its average volume of 3,920,481. The company has a fifty day moving average price of $44.26 and a two-hundred day moving average price of $41.64. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46. The company has a market cap of $14.16 billion, a P/E ratio of 14.09, a P/E/G ratio of 2.01 and a beta of 2.19. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $51.35.
MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.39. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the company posted $0.69 EPS. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. Equities research analysts expect that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on MGM shares. StockNews.com downgraded MGM Resorts International from a "buy" rating to a "hold" rating in a research note on Monday, March 4th. Mizuho started coverage on MGM Resorts International in a research note on Tuesday, March 26th. They issued a "buy" rating and a $61.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their price objective on MGM Resorts International from $50.00 to $52.00 and gave the stock a "buy" rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. increased their price objective on MGM Resorts International from $52.00 to $54.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 14th. Finally, Barclays cut their price target on MGM Resorts International from $57.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $55.34.
Read Our Latest Stock Report on MGM Resorts International
About MGM Resorts International
(
Free Report)
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.
Further Reading
Before you consider MGM Resorts International, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MGM Resorts International wasn't on the list.
While MGM Resorts International currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
