Public Employees Retirement System of Ohio Cuts Holdings in MGM Resorts International (NYSE:MGM)

Public Employees Retirement System of Ohio trimmed its holdings in shares of MGM Resorts International (NYSE:MGM) by 2.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 163,565 shares of the company’s stock after selling 3,644 shares during the period. Public Employees Retirement System of Ohio owned about 0.05% of MGM Resorts International worth $7,722,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capital World Investors grew its holdings in MGM Resorts International by 17.7% during the 4th quarter. Capital World Investors now owns 6,551,310 shares of the company’s stock valued at $292,713,000 after buying an additional 984,617 shares during the last quarter. Boston Partners raised its position in MGM Resorts International by 36.3% in the fourth quarter. Boston Partners now owns 5,427,254 shares of the company’s stock valued at $242,002,000 after purchasing an additional 1,446,362 shares during the period. Fisher Asset Management LLC increased its position in shares of MGM Resorts International by 5.2% during the fourth quarter. Fisher Asset Management LLC now owns 4,357,344 shares of the company’s stock worth $194,686,000 after acquiring an additional 213,528 shares during the last quarter. Norges Bank purchased a new stake in shares of MGM Resorts International during the fourth quarter worth about $139,599,000. Finally, Westfield Capital Management Co. LP grew its stake in MGM Resorts International by 21.0% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,401,407 shares of the company’s stock worth $107,295,000 after purchasing an additional 416,911 shares in the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Morgan Stanley decreased their price target on MGM Resorts International from $47.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. JMP Securities lifted their price target on MGM Resorts International from $58.00 to $59.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 17th. Mizuho lifted their price target on MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Wells Fargo & Company decreased their target price on MGM Resorts International from $56.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Finally, BTIG Research began coverage on MGM Resorts International in a research note on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 target price for the company. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average price target of $54.66.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $40.44, for a total value of $5,633,292.00. Following the transaction, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $41.50, for a total transaction of $180,276.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the completion of the sale, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,988 shares of company stock valued at $5,991,759. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

Shares of NYSE MGM traded up $0.53 during midday trading on Tuesday, hitting $43.31. 235,551 shares of the company’s stock were exchanged, compared to its average volume of 3,687,591. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. The stock’s 50 day moving average price is $42.05 and its 200-day moving average price is $42.82. The firm has a market cap of $13.59 billion, a P/E ratio of 16.45, a PEG ratio of 0.87 and a beta of 2.24. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.56 by $0.18. The firm had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 earnings per share. Equities research analysts anticipate that MGM Resorts International will post 3 EPS for the current year.

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.