MGM Resorts International (NYSE:MGM) Shares Sold by Public Employees Retirement Association of Colorado (2024)

Public Employees Retirement Association of Colorado cut its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 96.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,022 shares of the company's stock after selling 853,699 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in MGM Resorts International were worth $1,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Davis Selected Advisers bought a new stake in shares of MGM Resorts International in the third quarter worth about $361,915,000. Capital World Investors lifted its holdings in MGM Resorts International by 17.7% in the fourth quarter. Capital World Investors now owns 6,551,310 shares of the company's stock worth $292,713,000 after buying an additional 984,617 shares during the period. Boston Partners lifted its holdings in MGM Resorts International by 36.3% in the fourth quarter. Boston Partners now owns 5,427,254 shares of the company's stock worth $242,002,000 after buying an additional 1,446,362 shares during the period. Fisher Asset Management LLC lifted its holdings in MGM Resorts International by 4.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,346,250 shares of the company's stock worth $194,190,000 after buying an additional 202,434 shares during the period. Finally, Invesco Ltd. lifted its holdings in MGM Resorts International by 14.6% in the third quarter. Invesco Ltd. now owns 3,940,156 shares of the company's stock worth $144,840,000 after buying an additional 500,566 shares during the period. 68.11% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other MGM Resorts International news, Director Alexis Herman sold 4,344 shares of MGM Resorts International stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $41.50, for a total value of $180,276.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.83% of the stock is currently owned by insiders.

MGM Resorts International Price Performance

Shares of MGM opened at $40.77 on Tuesday. The company has a market capitalization of $12.79 billion, a P/E ratio of 15.68, a price-to-earnings-growth ratio of 0.89 and a beta of 2.24. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. The firm has a 50 day moving average of $41.69 and a 200 day moving average of $42.81. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. The firm's revenue was up 13.2% on a year-over-year basis. As a group, equities research analysts anticipate that MGM Resorts International will post 2.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on MGM shares. StockNews.com lowered shares of MGM Resorts International from a "buy" rating to a "hold" rating in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of MGM Resorts International from $50.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, February 14th. Mizuho lifted their target price on shares of MGM Resorts International from $61.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, May 2nd. Morgan Stanley lifted 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 report on Tuesday, April 9th. Finally, Macquarie reiterated an "outperform" rating and set a $58.00 target price on shares of MGM Resorts International in a report on Wednesday, February 14th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $54.83.

View Our Latest Report on MGM

MGM Resorts International Profile

(Free Report)

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.

Featured Stories

• Five stocks we like better than MGM Resorts International
• How to Invest in Small Cap Stocks
• Dividend King ABM Industries is on Track for New Highs
• How to Know if a Stock Pays Dividends and When They Are Paid Out
• FuelCell Energy Ignites Short-Covering Rally, Don’t Buy Into It
• Can Robinhood Stock Double Again in 2024? Here's Why It Might

Should you invest $1,000 in MGM Resorts International right now?

Before you consider MGM Resorts International, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MGM Resorts International wasn't on the list.

While MGM Resorts International currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here