MGM Resorts International (NYSE:MGM) Stock Holdings Decreased by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in MGM Resorts International (NYSE:MGM) by 6.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 388,792 shares of the company’s stock after selling 28,982 shares during the quarter. California Public Employees Retirement System owned approximately 0.13% of MGM Resorts International worth $13,472,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MGM. Global Trust Asset Management LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter valued at about $28,000. Assetmark Inc. lifted its stake in MGM Resorts International by 104.1% in the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after acquiring an additional 411 shares during the last quarter. Global Retirement Partners LLC grew its position in MGM Resorts International by 47.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after acquiring an additional 404 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of MGM Resorts International during the 4th quarter worth $46,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of MGM Resorts International by 74.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company’s stock valued at $51,000 after purchasing an additional 633 shares in the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MGM has been the subject of a number of recent analyst reports. Citigroup upped their target price on MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Argus raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Stifel Nicolaus upped their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Finally, Barclays reiterated an “equal weight” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.29.

Insider Activity

In related news, CFO Jonathan S. Halkyard bought 10,000 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the purchase, the chief financial officer now owns 75,648 shares of the company’s stock, valued at $2,433,596.16. This represents a 15.23 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

MGM Resorts International Price Performance

Shares of MGM stock opened at $26.86 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 12 month low of $25.61 and a 12 month high of $47.26. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 0.98 and a beta of 1.96. The stock has a 50-day moving average price of $33.50 and a 200 day moving average price of $35.69.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. Research analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

MGM Resorts International Company 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.