Strs Ohio Has $1.13 Million Stock Position in MGM Resorts International (NYSE:MGM)

Strs Ohio lowered its stake in shares of MGM Resorts International (NYSE:MGM) by 30.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,375 shares of the company’s stock after selling 10,976 shares during the quarter. Strs Ohio’s holdings in MGM Resorts International were worth $1,133,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Davis Selected Advisers acquired a new stake in MGM Resorts International during the third quarter worth $361,915,000. Boston Partners boosted its stake in shares of MGM Resorts International by 1,447.6% in the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after purchasing an additional 3,723,659 shares in the last quarter. Invesco Ltd. boosted its stake in shares of MGM Resorts International by 14.6% in the 3rd quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock valued at $144,840,000 after purchasing an additional 500,566 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of MGM Resorts International by 4.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,527,893 shares of the company’s stock valued at $92,923,000 after purchasing an additional 106,158 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of MGM Resorts International by 544.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock valued at $73,364,000 after purchasing an additional 1,686,267 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 $42.85 on Wednesday. The stock has a market capitalization of $13.58 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.75 and a beta of 2.19. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35. 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 business has a 50-day moving average price of $43.81 and a two-hundred day moving average price of $42.05.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.39. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.14 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. MGM Resorts International’s revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 EPS. Equities analysts predict that MGM Resorts International will post 2.46 earnings per share for the current year.

Insider Activity

In other news, Director Keith A. Meister sold 325,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value 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 approximately $261,637,576.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MGM. Mizuho began coverage on shares of MGM Resorts International in a research note on Tuesday, March 26th. They issued a “buy” rating and a $61.00 target price on the stock. JMP Securities restated a “market outperform” rating and issued a $57.00 target price on shares of MGM Resorts International in a research note on Wednesday, February 14th. TheStreet upgraded shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research note on Tuesday, February 13th. Bank Of America (Bofa) boosted their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, Morgan Stanley upped their price target on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, MGM Resorts International has an average rating of “Moderate Buy” and an average target price of $55.34.

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.