Teachers Retirement System of The State of Kentucky Has $23.02 Million Holdings in MGM Resorts International $MGM

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of MGM Resorts International (NYSE:MGM) by 23.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 664,244 shares of the company’s stock after selling 204,440 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.24% of MGM Resorts International worth $23,023,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Helikon Investments Ltd increased its stake in MGM Resorts International by 379.9% in the second quarter. Helikon Investments Ltd now owns 8,810,322 shares of the company’s stock valued at $302,987,000 after purchasing an additional 6,974,347 shares in the last quarter. Davis Selected Advisers increased its position in MGM Resorts International by 14.4% in the 2nd quarter. Davis Selected Advisers now owns 23,821,109 shares of the company’s stock valued at $819,208,000 after buying an additional 3,006,052 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in MGM Resorts International by 119.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,212,114 shares of the company’s stock worth $144,855,000 after buying an additional 2,293,797 shares during the period. Norges Bank bought a new position in MGM Resorts International in the second quarter worth approximately $60,570,000. Finally, Goldentree Asset Management LP boosted its holdings in MGM Resorts International by 20.7% in the second quarter. Goldentree Asset Management LP now owns 5,402,092 shares of the company’s stock worth $185,778,000 after acquiring an additional 924,810 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MGM. Barclays set a $37.00 target price on MGM Resorts International in a research report on Friday, February 6th. Weiss Ratings restated a “sell (d)” rating on shares of MGM Resorts International in a report on Monday, December 29th. Truist Financial raised their price target on shares of MGM Resorts International from $38.00 to $39.00 and gave the company a “hold” rating in a research report on Friday, February 6th. UBS Group lowered their price objective on MGM Resorts International from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Monday, November 17th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $33.00 target price on shares of MGM Resorts International in a research report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $41.94.

MGM Resorts International Stock Up 0.3%

MGM stock opened at $35.81 on Wednesday. The stock has a market cap of $9.16 billion, a P/E ratio of 47.75 and a beta of 1.38. The company has a current ratio of 1.23, a quick ratio of 1.20 and a debt-to-equity ratio of 1.91. The stock’s fifty day simple moving average is $35.42 and its two-hundred day simple moving average is $34.95. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $40.16.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 4th. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.96. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.42 billion. MGM Resorts International had a return on equity of 26.04% and a net margin of 1.17%.During the same period in the previous year, the business posted $0.45 EPS. Analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Iac Inc. bought 1,098,748 shares of MGM Resorts International stock in a transaction dated Friday, December 5th. The stock was purchased at an average cost of $36.30 per share, with a total value of $39,884,552.40. Following the transaction, the insider directly owned 65,822,350 shares of the company’s stock, valued at approximately $2,389,351,305. The trade was a 1.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.06% of the stock is currently owned by insiders.

MGM Resorts International Company 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.