Public Employees Retirement Association of Colorado Has $1.43 Million Holdings in MGM Resorts International (NYSE:MGM) (2024)

Posted by Defense World Staff on Jun 11th, 2024

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

Several other large investors have also recently bought and sold shares of the stock. CVA Family Office LLC acquired a new position in shares of MGM Resorts International during the fourth quarter valued at about $28,000. Sunbelt Securities Inc. raised its holdings in MGM Resorts International by 510.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock valued at $44,000 after acquiring an additional 1,000 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of MGM Resorts International by 49.7% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock worth $49,000 after acquiring an additional 367 shares during the period. Sandy Spring Bank grew its holdings in shares of MGM Resorts International by 33.7% during the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after purchasing an additional 288 shares in the last quarter. Finally, Huntington National Bank increased its position in shares of MGM Resorts International by 46.7% during the third quarter. Huntington National Bank now owns 1,999 shares of the company’s stock valued at $73,000 after purchasing an additional 636 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, Director Alexis Herman sold 4,344 shares of MGM Resorts International stock in a transaction dated Friday, May 17th. The stock was 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 SEC, which is available at this link. Insiders own 2.83% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM opened at $40.77 on Tuesday. The firm has a market cap of $12.79 billion, a P/E ratio of 15.68, a PEG ratio of 0.89 and a beta of 2.24. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.51. The firm’s 50 day moving average price is $41.83 and its two-hundred day moving average price is $42.81.

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

Analysts Set New Price Targets

A number of research firms have weighed in on MGM. Bank Of America (Bofa) lifted their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. StockNews.com lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Morgan Stanley increased their price target on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, JMP Securities increased their target price on MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a report on Monday, May 6th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.83.

Get Our Latest Stock Report on MGM Resorts International