New York State Teachers Retirement System Sells 12,377 Shares of MGM Resorts International (NYSE:MGM)

New York State Teachers Retirement System reduced its position in shares of MGM Resorts International (NYSE:MGM) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 231,624 shares of the company’s stock after selling 12,377 shares during the period. New York State Teachers Retirement System’s holdings in MGM Resorts International were worth $8,026,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in shares of MGM Resorts International in the 3rd quarter worth approximately $28,000. Global Trust Asset Management LLC purchased a new position in MGM Resorts International in the fourth quarter worth $28,000. Eastern Bank bought a new position in MGM Resorts International in the 3rd quarter valued at $35,000. Brooklyn Investment Group purchased a new stake in shares of MGM Resorts International during the 3rd quarter valued at $44,000. Finally, Planning Capital Management Corp bought a new stake in shares of MGM Resorts International during the 3rd quarter worth $45,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on MGM shares. Mizuho lifted their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Jefferies Financial Group dropped their price objective on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Macquarie reissued an “outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. BTIG Research cut MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley lifted their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.47.

MGM Resorts International Stock Down 4.3 %

Shares of NYSE:MGM opened at $38.12 on Wednesday. The firm has a fifty day moving average price of $34.48 and a two-hundred day moving average price of $36.76. The company has a market cap of $11.35 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 2.94 and a beta of 2.20. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping 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%. Analysts anticipate that MGM Resorts International will post 2.37 EPS for the current fiscal year.

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.