MGM Resorts International (NYSE:MGM) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in MGM Resorts International (NYSE:MGM - Free Report) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 388,792 shares of the company's stock after selling 28,982 shares during the quarter. California Public Employees Retirement System owned about 0.13% of MGM Resorts International worth $13,472,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Ballentine Partners LLC increased its position in shares of MGM Resorts International by 5.4% during the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company's stock worth $227,000 after acquiring an additional 333 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in MGM Resorts International by 1.7% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company's stock worth $684,000 after acquiring an additional 333 shares during the period. Global Retirement Partners LLC increased its position in MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after acquiring an additional 404 shares during the period. Assetmark Inc. increased its holdings in MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock valued at $28,000 after buying an additional 411 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in MGM Resorts International by 0.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 146,417 shares of the company's stock valued at $5,073,000 after buying an additional 469 shares during the period. Institutional investors own 68.11% of the company's stock.

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Insiders Place Their Bets

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. This represents a 24.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were acquired at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the transaction, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. 2.83% of the stock is currently owned by corporate insiders.

MGM Resorts International Stock Performance

Shares of NYSE:MGM traded down $1.27 during trading on Thursday, hitting $28.66. The stock had a trading volume of 1,517,122 shares, compared to its average volume of 4,545,672. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $47.26. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The stock has a 50-day simple moving average of $32.85 and a two-hundred day simple moving average of $35.36.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. On average, equities research analysts expect that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on MGM. Jefferies Financial Group cut their target price on shares of 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. Truist Financial decreased their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Macquarie reiterated an "outperform" rating and issued a $50.00 target price on shares of MGM Resorts International in a research note on Thursday, February 13th. Needham & Company LLC reissued a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Citigroup upped their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.29.

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.