Mutual of America Capital Management LLC Reduces Stock Holdings in MGM Resorts International (NYSE:MGM)

Mutual of America Capital Management LLC lowered its holdings in shares of MGM Resorts International (NYSE:MGM) by 7.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,141 shares of the company’s stock after selling 2,704 shares during the quarter. Mutual of America Capital Management LLC’s holdings in MGM Resorts International were worth $1,615,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Custom Index Systems LLC bought a new position in MGM Resorts International in the fourth quarter worth approximately $354,000. Sequoia Financial Advisors LLC bought a new position in MGM Resorts International in the 4th quarter worth $252,000. International Assets Investment Management LLC lifted its position in MGM Resorts International by 5,605.2% during the fourth quarter. International Assets Investment Management LLC now owns 44,101 shares of the company’s stock valued at $1,970,000 after purchasing an additional 43,328 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in MGM Resorts International by 2.7% during the fourth quarter. 180 Wealth Advisors LLC now owns 11,731 shares of the company’s stock valued at $534,000 after purchasing an additional 312 shares in the last quarter. Finally, Arlington Trust Co LLC grew its holdings in MGM Resorts International by 600.7% during the fourth quarter. Arlington Trust Co LLC now owns 3,167 shares of the company’s stock valued at $142,000 after purchasing an additional 2,715 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MGM has been the topic of several recent research reports. Barclays decreased their price objective on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 14th. Bank Of America (Bofa) increased their price target on MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. JMP Securities restated a “market outperform” rating and issued a $57.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.34.

Insider Activity

In related news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the sale, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $42.42 on Monday. The company’s 50-day moving average price is $43.91 and its 200-day moving average price is $41.99. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46. The company has a market cap of $13.45 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.75 and a beta of 2.19. 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 issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.39. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, equities research analysts forecast that MGM Resorts International will post 2.46 EPS for the current fiscal year.

About MGM Resorts International

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.