State of Alaska Department of Revenue Sells 1,035 Shares of MGM Resorts International (NYSE:MGM)

State of Alaska Department of Revenue decreased its holdings in MGM Resorts International (NYSE:MGM) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,800 shares of the company’s stock after selling 1,035 shares during the period. State of Alaska Department of Revenue’s holdings in MGM Resorts International were worth $893,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Empower Advisory Group LLC boosted its stake in shares of MGM Resorts International by 4.2% in the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after buying an additional 62,997 shares during the last quarter. Goldentree Asset Management LP boosted its stake in shares of MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after buying an additional 1,390,599 shares during the last quarter. Miracle Mile Advisors LLC purchased a new position in shares of MGM Resorts International in the 4th quarter worth $2,010,000. Assenagon Asset Management S.A. boosted its stake in shares of MGM Resorts International by 80.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock worth $12,411,000 after buying an additional 159,522 shares during the last quarter. Finally, Zacks Investment Management boosted its stake in shares of MGM Resorts International by 7.8% in the 3rd quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock worth $15,651,000 after buying an additional 29,107 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Up 17.5 %

Shares of NYSE:MGM opened at $40.38 on Friday. MGM Resorts International has a 52-week low of $31.61 and a 52-week high of $48.24. The stock has a market cap of $12.02 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 2.94 and a beta of 2.20. The business’s 50 day moving average is $34.32 and its 200 day moving average is $36.83. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. Sell-side analysts predict that MGM Resorts International will post 2.37 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Truist Financial lowered their target price on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Jefferies Financial Group lowered their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Mizuho lifted their target price on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday. BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Finally, Capital One Financial raised their price target on MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.47.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.13% of the company’s stock.

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.