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

Public Employees Retirement System of Ohio trimmed its position in MGM Resorts International (NYSE:MGM - Free Report) by 13.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,398 shares of the company's stock after selling 20,434 shares during the period. Public Employees Retirement System of Ohio's holdings in MGM Resorts International were worth $4,980,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. increased its stake in shares of MGM Resorts International by 1.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company's stock worth $1,018,000 after acquiring an additional 278 shares during the period. Fifth Third Bancorp increased its position in MGM Resorts International by 3.6% during the 2nd quarter. Fifth Third Bancorp now owns 14,975 shares of the company's stock worth $665,000 after purchasing an additional 525 shares during the period. Lecap Asset Management Ltd. purchased a new position in shares of MGM Resorts International during the 2nd quarter worth approximately $447,000. &PARTNERS lifted its holdings in shares of MGM Resorts International by 145.3% in the 2nd quarter. &PARTNERS now owns 20,213 shares of the company's stock valued at $898,000 after buying an additional 11,972 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of MGM Resorts International by 7.0% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 16,444 shares of the company's stock valued at $731,000 after buying an additional 1,075 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 51,000 shares of the firm's stock in a transaction 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 sale, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on MGM. Barclays cut their price objective on MGM Resorts International from $50.00 to $46.00 and set an "overweight" rating for the company in a research report on Friday. Wells Fargo & Company reduced their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an "overweight" rating for the company in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a "buy" rating on the stock in a research report on Tuesday, October 1st. Morgan Stanley lifted their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 22nd. Finally, Truist Financial decreased their price target on MGM Resorts International from $58.00 to $56.00 and set a "buy" rating on the stock in a research note on Wednesday, October 23rd. Four 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, MGM Resorts International has an average rating of "Moderate Buy" and an average price target of $52.54.

MGM Resorts International Price Performance

NYSE:MGM traded down $0.55 during trading hours on Friday, reaching $36.25. 2,843,383 shares of the company traded hands, compared to its average volume of 4,063,788. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The firm's 50-day moving average is $38.37 and its 200-day moving average is $39.37. The stock has a market cap of $10.79 billion, a P/E ratio of 12.95, a P/E/G ratio of 3.16 and a beta of 2.20. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the business earned $0.64 EPS. The firm's revenue was up 5.3% on a year-over-year basis. Equities research analysts expect that MGM Resorts International will post 2.48 earnings per share 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.