Mutual of America Capital Management LLC Has $770,000 Stock Holdings in MGM Resorts International (NYSE:MGM)

Mutual of America Capital Management LLC decreased its holdings in MGM Resorts International (NYSE:MGM) by 4.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,980 shares of the company’s stock after selling 1,089 shares during the quarter. Mutual of America Capital Management LLC’s holdings in MGM Resorts International were worth $770,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in MGM Resorts International in the 4th quarter valued at about $88,033,000. Eminence Capital LP acquired a new stake in MGM Resorts International in the 4th quarter valued at about $72,408,000. AQR Capital Management LLC increased its position in MGM Resorts International by 12,726.8% in the 4th quarter. AQR Capital Management LLC now owns 1,278,965 shares of the company’s stock valued at $44,316,000 after acquiring an additional 1,268,994 shares in the last quarter. Marshall Wace LLP increased its position in MGM Resorts International by 50.9% in the 4th quarter. Marshall Wace LLP now owns 3,233,718 shares of the company’s stock valued at $112,048,000 after acquiring an additional 1,090,533 shares in the last quarter. Finally, Invesco Ltd. increased its position in MGM Resorts International by 22.5% in the 4th quarter. Invesco Ltd. now owns 5,785,343 shares of the company’s stock valued at $200,462,000 after acquiring an additional 1,063,707 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

In related news, Director Daniel J. Taylor sold 5,261 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $34.93, for a total transaction of $183,766.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Keith A. Meister sold 60,000 shares of the company’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $32.09, for a total transaction of $1,925,400.00. Following the sale, the director directly owned 5,627,478 shares of the company’s stock, valued at $180,585,769.02. This represents a 1.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 105,261 shares of company stock worth $3,486,367 over the last ninety days. Insiders own 3.06% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $37.17 on Tuesday. The company’s fifty day simple moving average is $34.29 and its 200-day simple moving average is $33.08. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 1.79. The firm has a market cap of $10.12 billion, a PE ratio of 16.60, a P/E/G ratio of 2.40 and a beta of 1.76. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $45.54.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, April 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. MGM Resorts International had a net margin of 3.95% and a return on equity of 20.64%. The company had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the prior year, the firm earned $0.74 EPS. MGM Resorts International’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities research analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

MGM Resorts International declared that its board has initiated a stock buyback plan on Wednesday, April 30th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 22.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of MGM Resorts International from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Macquarie lowered their price target on shares of MGM Resorts International from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. UBS Group lifted their price target on shares of MGM Resorts International from $37.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. The Goldman Sachs Group assumed coverage on shares of MGM Resorts International in a research report on Monday, July 7th. They set a “sell” rating and a $34.00 price target for the company. Finally, Susquehanna lifted their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “positive” rating in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

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.