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

New York State Teachers Retirement System cut its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 231,624 shares of the company's stock after selling 12,377 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of MGM Resorts International worth $8,026,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MGM. V Square Quantitative Management LLC boosted its position in shares of MGM Resorts International by 9.2% during the 4th quarter. V Square Quantitative Management LLC now owns 7,580 shares of the company's stock worth $263,000 after purchasing an additional 641 shares in the last quarter. Littlejohn Financial Services Inc. acquired a new position in MGM Resorts International during the 4th quarter worth approximately $1,044,000. Essex Financial Services Inc. raised its stake in MGM Resorts International by 22.0% during the 4th quarter. Essex Financial Services Inc. now owns 6,978 shares of the company's stock worth $242,000 after buying an additional 1,256 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in MGM Resorts International by 5.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 17,337 shares of the company's stock worth $601,000 after acquiring an additional 916 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in MGM Resorts International by 9.5% in the fourth quarter. Empowered Funds LLC now owns 23,651 shares of the company's stock valued at $820,000 after acquiring an additional 2,043 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Todd Meinert sold 6,000 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the sale, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This represents a 24.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Keith A. Meister sold 51,000 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares of the company's stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.13% of the company's stock.

MGM Resorts International Stock Performance

MGM Resorts International stock traded down $2.28 during mid-day trading on Friday, reaching $36.02. 5,166,376 shares of the company's stock were exchanged, compared to its average volume of 5,180,613. The firm has a market capitalization of $10.28 billion, a PE ratio of 15.01, a P/E/G ratio of 0.98 and a beta of 2.20. 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 business's fifty day simple moving average is $34.54 and its 200 day simple moving average is $36.79. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping 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, sell-side analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MGM. Macquarie reaffirmed an "outperform" rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Wells Fargo & Company upped their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Citigroup lifted 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. Stifel Nicolaus upped their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Finally, BTIG Research downgraded MGM Resorts International from a "buy" rating to a "neutral" rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.47.

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.