Teachers Retirement System of The State of Kentucky Sells 22,800 Shares of MGM Resorts International $MGM

Teachers Retirement System of The State of Kentucky lessened its holdings in MGM Resorts International (NYSE:MGM) by 3.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 701,214 shares of the company’s stock after selling 22,800 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in MGM Resorts International were worth $25,953,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of MGM Resorts International by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,652 shares of the company’s stock valued at $582,000 after acquiring an additional 951 shares during the last quarter. NewEdge Advisors LLC lifted its position in MGM Resorts International by 12.1% during the first quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock valued at $115,000 after purchasing an additional 421 shares during the last quarter. Woodline Partners LP grew its stake in MGM Resorts International by 39.1% in the 1st quarter. Woodline Partners LP now owns 18,901 shares of the company’s stock worth $560,000 after buying an additional 5,312 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of MGM Resorts International by 57.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,248 shares of the company’s stock worth $112,000 after buying an additional 1,182 shares during the last quarter. Finally, Jump Financial LLC raised its position in shares of MGM Resorts International by 221.9% during the 2nd quarter. Jump Financial LLC now owns 26,782 shares of the company’s stock valued at $921,000 after buying an additional 18,463 shares in the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of MGM Resorts International from $46.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Barclays lifted their price target on MGM Resorts International from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday. UBS Group set a $48.00 price objective on MGM Resorts International in a research report on Thursday, July 2nd. Capital One Financial raised their price objective on MGM Resorts International from $46.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Finally, Jefferies Financial Group restated a “hold” rating on shares of MGM Resorts International in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $52.02.

Insider Transactions at MGM Resorts International

In related news, Director Daniel J. Taylor sold 6,675 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $38.44, for a total transaction of $256,587.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.38% of the stock is currently owned by insiders.

MGM Resorts International Price Performance

Shares of NYSE:MGM opened at $46.88 on Monday. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 1.93. The stock has a market cap of $12.00 billion, a PE ratio of 65.12 and a beta of 1.29. The company’s fifty day moving average is $43.92 and its 200 day moving average is $38.97. MGM Resorts International has a 52 week low of $29.18 and a 52 week high of $51.59.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). The business had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.37 billion. MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 earnings per share. Research analysts anticipate that MGM Resorts International will post 1.95 earnings per share for the current year.

MGM Resorts International Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.