Public Employees Retirement System of Ohio Trims Stake in MGM Resorts International (NYSE:MGM)

Public Employees Retirement System of Ohio lessened its holdings in MGM Resorts International (NYSE:MGM) by 13.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 127,398 shares of the company’s stock after selling 20,434 shares during the period. Public Employees Retirement System of Ohio’s holdings in MGM Resorts International were worth $4,980,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. HG Vora Capital Management LLC bought a new position in MGM Resorts International in the 3rd quarter worth about $97,725,000. Goldentree Asset Management LP raised its stake in MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares in the last quarter. Marshall Wace LLP grew its stake in MGM Resorts International by 174.8% in the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after buying an additional 706,159 shares in the last quarter. LSV Asset Management purchased a new position in MGM Resorts International in the 2nd quarter worth approximately $21,149,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in MGM Resorts International in the 3rd quarter worth approximately $17,622,000. Institutional investors own 68.11% of the company’s stock.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value 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 approximately $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.13% of the company’s stock.

MGM Resorts International Trading Down 1.5 %

Shares of MGM opened at $36.25 on Friday. The stock has a market capitalization of $10.79 billion, a P/E ratio of 12.95, a PEG ratio of 3.16 and a beta of 2.20. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The firm has a fifty day simple moving average of $38.37 and a two-hundred day simple moving average of $39.37.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts anticipate that MGM Resorts International will post 2.48 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MGM. Barclays cut their target price on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday. UBS Group upgraded MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Wells Fargo & Company reduced their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Mizuho cut their target price on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Finally, JMP Securities decreased their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating on the stock in a research note on Monday, November 25th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.54.

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.