Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Holdings in MGM Resorts International (NYSE:MGM)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its position in shares of MGM Resorts International (NYSE:MGM) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,114 shares of the company’s stock after selling 2,143 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in MGM Resorts International were worth $1,667,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MGM. Global Trust Asset Management LLC purchased a new stake in shares of MGM Resorts International during the 4th quarter worth about $28,000. Assetmark Inc. grew its stake in MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after buying an additional 411 shares during the period. Global Retirement Partners LLC increased its position in shares of 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. Brooklyn Investment Group purchased a new position in shares of MGM Resorts International in the 3rd quarter valued at $44,000. Finally, Modus Advisors LLC acquired a new position in shares of MGM Resorts International during the 4th quarter valued at $46,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MGM Resorts International

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

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $32.03 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. MGM Resorts International has a twelve month low of $29.99 and a twelve month high of $48.25. The business has a 50 day simple moving average of $34.00 and a 200-day simple moving average of $36.02.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating 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%. As a group, equities research analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on MGM. Truist Financial cut their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Wells Fargo & Company raised their target price on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Wedbush restated an “outperform” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Macquarie reiterated an “outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Mizuho upped their target price on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and an average target price of $51.29.

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.