MGM Resorts International (NYSE:MGM) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky decreased its position in MGM Resorts International (NYSE:MGMGet Rating) by 4.2% during the 1st quarter, Holdings Channel reports. The firm owned 28,228 shares of the company’s stock after selling 1,228 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in MGM Resorts International were worth $1,184,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Marshall Wace LLP boosted its stake in shares of MGM Resorts International by 148.1% during the fourth quarter. Marshall Wace LLP now owns 2,930,320 shares of the company’s stock valued at $131,513,000 after acquiring an additional 1,749,408 shares during the last quarter. Samlyn Capital LLC acquired a new stake in shares of MGM Resorts International during the fourth quarter valued at $65,783,000. Candlestick Capital Management LP boosted its stake in shares of MGM Resorts International by 116.7% during the fourth quarter. Candlestick Capital Management LP now owns 1,625,171 shares of the company’s stock valued at $72,938,000 after acquiring an additional 875,171 shares during the last quarter. Millennium Management LLC boosted its stake in shares of MGM Resorts International by 1,475.0% during the fourth quarter. Millennium Management LLC now owns 881,375 shares of the company’s stock valued at $39,556,000 after acquiring an additional 825,416 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of MGM Resorts International by 1,410.5% during the first quarter. Assenagon Asset Management S.A. now owns 798,295 shares of the company’s stock valued at $33,480,000 after acquiring an additional 745,445 shares during the last quarter. Institutional investors and hedge funds own 67.54% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

In other news, COO Corey Ian Sanders sold 10,000 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $36.00, for a total value of $360,000.00. Following the sale, the chief operating officer now owns 280,273 shares of the company’s stock, valued at approximately $10,089,828. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Daniel J. Taylor sold 4,499 shares of MGM Resorts International stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $34.41, for a total transaction of $154,810.59. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Corey Ian Sanders sold 10,000 shares of MGM Resorts International stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $36.00, for a total value of $360,000.00. Following the transaction, the chief operating officer now owns 280,273 shares in the company, valued at approximately $10,089,828. The disclosure for this sale can be found here. Insiders have acquired 590,030 shares of company stock valued at $20,493,524 in the last quarter. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Down 6.6 %

Shares of MGM Resorts International stock opened at $30.61 on Friday. The business’s fifty day moving average price is $33.39 and its two-hundred day moving average price is $35.27. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.65 and a quick ratio of 1.63. The company has a market capitalization of $12.03 billion, a P/E ratio of 4.29 and a beta of 2.11. MGM Resorts International has a 1-year low of $26.41 and a 1-year high of $51.17.

MGM Resorts International (NYSE:MGMGet Rating) last announced its earnings results on Wednesday, August 3rd. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.21). The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.03 billion. MGM Resorts International had a net margin of 27.33% and a return on equity of 1.44%. As a group, research analysts forecast that MGM Resorts International will post 0.04 EPS for the current year.

MGM Resorts International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, September 9th were paid a dividend of $0.0025 per share. This represents a $0.01 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, September 8th. MGM Resorts International’s payout ratio is currently 0.14%.

Analysts Set New Price Targets

A number of analysts recently commented on MGM shares. Deutsche Bank Aktiengesellschaft increased their price objective on MGM Resorts International from $48.00 to $51.00 in a research note on Thursday, August 4th. Argus lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Thursday, September 8th. Credit Suisse Group decreased their price target on MGM Resorts International from $76.00 to $72.00 and set an “outperform” rating on the stock in a research note on Thursday, August 4th. Citigroup raised their price target on MGM Resorts International to $58.00 in a research note on Tuesday, August 9th. Finally, StockNews.com downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, July 15th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $52.93.

MGM Resorts International Company Profile

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MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. 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.

Further Reading

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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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