New York State Common Retirement Fund Has $4.65 Million Holdings in MGM Resorts International $MGM

New York State Common Retirement Fund trimmed its position in shares of MGM Resorts International (NYSE:MGMFree Report) by 14.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,162 shares of the company’s stock after selling 22,399 shares during the quarter. New York State Common Retirement Fund’s holdings in MGM Resorts International were worth $4,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Davis Selected Advisers increased its holdings in MGM Resorts International by 14.4% during the 2nd quarter. Davis Selected Advisers now owns 23,821,109 shares of the company’s stock valued at $819,208,000 after purchasing an additional 3,006,052 shares in the last quarter. Helikon Investments Ltd boosted its stake in MGM Resorts International by 379.9% in the second quarter. Helikon Investments Ltd now owns 8,810,322 shares of the company’s stock worth $302,987,000 after purchasing an additional 6,974,347 shares in the last quarter. Goldentree Asset Management LP grew its holdings in shares of MGM Resorts International by 20.7% during the second quarter. Goldentree Asset Management LP now owns 5,402,092 shares of the company’s stock worth $185,778,000 after purchasing an additional 924,810 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of MGM Resorts International by 119.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,212,114 shares of the company’s stock worth $144,855,000 after purchasing an additional 2,293,797 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of MGM Resorts International by 6.9% in the second quarter. AQR Capital Management LLC now owns 2,792,225 shares of the company’s stock valued at $96,025,000 after buying an additional 180,947 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

Trending Headlines about MGM Resorts International

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MGM Resorts International Trading Up 3.3%

Shares of NYSE MGM opened at $37.49 on Friday. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $41.32. The firm has a market capitalization of $10.25 billion, a P/E ratio of 49.99 and a beta of 1.44. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.23 and a quick ratio of 1.19. The company’s 50 day simple moving average is $35.62 and its 200 day simple moving average is $35.03.

MGM Resorts International (NYSE:MGMGet Free Report) last issued its earnings results on Thursday, February 5th. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $0.64 by $0.96. MGM Resorts International had a net margin of 1.17% and a return on equity of 25.46%. The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter in the previous year, the company posted $0.45 EPS. On average, analysts predict that MGM Resorts International will post 2.21 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MGM shares. Barclays set a $37.00 price target on shares of MGM Resorts International in a research report on Friday. Stifel Nicolaus upped their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group decreased their price target on shares of MGM Resorts International from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Monday, November 17th. The Goldman Sachs Group restated a “sell” rating and issued a $33.00 price objective on shares of MGM Resorts International in a research report on Monday, December 15th. Finally, Mizuho set a $62.00 price objective on MGM Resorts International in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $44.26.

Check Out Our Latest Analysis on MGM Resorts International

Insider Transactions at MGM Resorts International

In related news, major shareholder Iac Inc. bought 1,098,748 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was bought at an average cost of $36.30 per share, for a total transaction of $39,884,552.40. Following the transaction, the insider owned 65,822,350 shares of the company’s stock, valued at $2,389,351,305. This represents a 1.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.06% of the company’s stock.

About MGM Resorts International

(Free Report)

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.

See Also

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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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