MGM Resorts International (NYSE:MGM) Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its stake in shares of MGM Resorts International (NYSE:MGM) by 70.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,388 shares of the company’s stock after purchasing an additional 19,142 shares during the period. Illinois Municipal Retirement Fund’s holdings in MGM Resorts International were worth $2,073,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MGM. Regatta Capital Group LLC lifted its position in shares of MGM Resorts International by 1.8% in the 4th quarter. Regatta Capital Group LLC now owns 13,753 shares of the company’s stock worth $614,000 after buying an additional 247 shares during the last quarter. Sandy Spring Bank lifted its position in shares of MGM Resorts International by 33.7% in the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after buying an additional 288 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of MGM Resorts International by 2.4% in the 3rd quarter. Fifth Third Bancorp now owns 12,173 shares of the company’s stock worth $447,000 after buying an additional 289 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of MGM Resorts International by 3.1% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 9,587 shares of the company’s stock worth $428,000 after buying an additional 292 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of MGM Resorts International by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 80,324 shares of the company’s stock worth $2,953,000 after buying an additional 302 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $42.18 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53. The stock has a market cap of $13.37 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.76 and a beta of 2.19. The stock has a 50-day moving average of $43.76 and a 200-day moving average of $42.09. MGM Resorts International has a one year low of $34.12 and a one year high of $51.35.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.39. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.14 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. MGM Resorts International’s revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.69 EPS. As a group, sell-side analysts expect that MGM Resorts International will post 2.46 earnings per share for the current year.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the transaction, the director now directly owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MGM shares. StockNews.com cut shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Morgan Stanley raised their target price on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Macquarie restated an “outperform” rating and set a $58.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. Finally, JMP Securities restated a “market outperform” rating and set a $57.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.34.

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.