Illinois Municipal Retirement Fund Grows Holdings in MGM Resorts International (NYSE:MGM)

Illinois Municipal Retirement Fund boosted its holdings in shares of MGM Resorts International (NYSE:MGM) by 60.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 98,833 shares of the company’s stock after purchasing an additional 37,146 shares during the period. Illinois Municipal Retirement Fund’s holdings in MGM Resorts International were worth $3,425,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. HG Vora Capital Management LLC purchased a new position in shares of MGM Resorts International during the third quarter worth about $97,725,000. Goldentree Asset Management LP lifted its position in MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after acquiring an additional 1,390,599 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of MGM Resorts International in the 3rd quarter valued at approximately $17,622,000. ArrowMark Colorado Holdings LLC increased its holdings in shares of MGM Resorts International by 207.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company’s stock valued at $25,662,000 after purchasing an additional 442,975 shares during the period. Finally, KBC Group NV raised its stake in shares of MGM Resorts International by 3,041.1% during the fourth quarter. KBC Group NV now owns 388,047 shares of the company’s stock worth $13,446,000 after purchasing an additional 375,693 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.83% of the company’s stock.

Analysts Set New Price Targets

MGM has been the topic of a number of analyst reports. Canaccord Genuity Group reiterated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. BTIG Research cut shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Susquehanna Bancshares boosted their price target on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Barclays reissued an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Mizuho lifted their price objective on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

MGM Resorts International Stock Down 1.1 %

MGM opened at $35.13 on Thursday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 0.98 and a beta of 2.20. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24. The business’s fifty day moving average is $34.59 and its two-hundred day moving average is $36.78.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. Analysts anticipate that MGM Resorts International will post 2.21 EPS for the current fiscal 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.