New York State Common Retirement Fund Has $12.16 Million Stock Position in MGM Resorts International (NYSE:MGM)

New York State Common Retirement Fund decreased its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 272,155 shares of the company's stock after selling 37,201 shares during the period. New York State Common Retirement Fund owned about 0.08% of MGM Resorts International worth $12,160,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Illinois Municipal Retirement Fund grew its stake in shares of MGM Resorts International by 70.3% in the fourth quarter. Illinois Municipal Retirement Fund now owns 46,388 shares of the company's stock worth $2,073,000 after acquiring an additional 19,142 shares in the last quarter. MCF Advisors LLC grew its stake in shares of MGM Resorts International by 11.2% in the fourth quarter. MCF Advisors LLC now owns 16,242 shares of the company's stock worth $726,000 after acquiring an additional 1,635 shares in the last quarter. OLD National Bancorp IN grew its stake in shares of MGM Resorts International by 36.7% in the fourth quarter. OLD National Bancorp IN now owns 8,085 shares of the company's stock worth $361,000 after acquiring an additional 2,169 shares in the last quarter. Signaturefd LLC grew its stake in shares of MGM Resorts International by 3.1% in the fourth quarter. Signaturefd LLC now owns 14,049 shares of the company's stock worth $628,000 after acquiring an additional 425 shares in the last quarter. Finally, Lindbrook Capital LLC grew its stake in shares of MGM Resorts International by 12.9% in the fourth quarter. Lindbrook Capital LLC now owns 3,282 shares of the company's stock worth $147,000 after acquiring an additional 375 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company's stock.

MGM Resorts International Stock Performance

NYSE:MGM traded up $0.29 during midday trading on Wednesday, reaching $39.73. The stock had a trading volume of 7,355,273 shares, compared to its average volume of 3,874,842. The firm has a fifty day simple moving average of $43.63 and a two-hundred day simple moving average of $42.24. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46. The stock has a market cap of $12.60 billion, a P/E ratio of 12.44, a P/E/G ratio of 1.71 and a beta of 2.19.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.18. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the firm posted $0.44 EPS. MGM Resorts International's quarterly revenue was up 13.2% on a year-over-year basis. On average, equities analysts expect that MGM Resorts International will post 2.46 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Bank Of America (Bofa) lifted their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 14th. TheStreet raised shares of MGM Resorts International from a "c+" rating to a "b-" rating in a research report on Tuesday, February 13th. Macquarie reaffirmed an "outperform" rating and set a $58.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. StockNews.com cut shares of MGM Resorts International from a "buy" rating to a "hold" rating in a research report on Monday, March 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $55.34.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the sale, the director now owns 6,098,778 shares in the company, valued at $261,637,576.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.83% of the stock is currently owned by insiders.

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.