Kentucky Retirement Systems Insurance Trust Fund Sells 1,259 Shares of MGM Resorts International (NYSE:MGM)

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in shares of MGM Resorts International (NYSE:MGM) by 15.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,835 shares of the company’s stock after selling 1,259 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in MGM Resorts International were worth $267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MGM. International Assets Investment Management LLC bought a new position in shares of MGM Resorts International during the second quarter valued at approximately $28,000. Eastern Bank bought a new position in shares of MGM Resorts International during the third quarter valued at approximately $35,000. EverSource Wealth Advisors LLC grew its holdings in shares of MGM Resorts International by 60.7% during the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after buying an additional 329 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares during the last quarter. Finally, Planning Capital Management Corp purchased a new stake in shares of MGM Resorts International during the third quarter valued at approximately $45,000. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Up 0.3 %

Shares of NYSE MGM opened at $37.26 on Wednesday. The firm’s 50-day moving average price is $38.53 and its 200-day moving average price is $39.76. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $11.09 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 2.66 and a beta of 2.23. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, equities research analysts anticipate that MGM Resorts International will post 2.5 EPS for the current fiscal year.

Analyst Ratings Changes

MGM has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Macquarie cut their price target on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Morgan Stanley increased their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Finally, Barclays dropped their target price on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.15.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, the director now directly owns 5,738,478 shares in the company, valued at $210,716,912.16. This represents a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.83% of the company’s stock.

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.