Mutual of America Capital Management LLC Sells 351 Shares of MGM Resorts International (NYSE:MGM)

Mutual of America Capital Management LLC lowered its position in shares of MGM Resorts International (NYSE:MGM) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,790 shares of the company’s stock after selling 351 shares during the period. Mutual of America Capital Management LLC’s holdings in MGM Resorts International were worth $1,690,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MGM. Comerica Bank increased its position in shares of MGM Resorts International by 130,138.6% during the third quarter. Comerica Bank now owns 148,472 shares of the company’s stock valued at $5,458,000 after acquiring an additional 148,358 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in MGM Resorts International by 15.7% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 5,955 shares of the company’s stock worth $219,000 after purchasing an additional 810 shares during the period. Sunbelt Securities Inc. grew its position in MGM Resorts International by 510.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after purchasing an additional 1,000 shares during the period. Massmutual Trust Co. FSB ADV grew its position in 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 purchasing an additional 367 shares during the period. Finally, Fulton Bank N.A. bought a new stake in MGM Resorts International in the 4th quarter worth approximately $276,000. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Up 0.6 %

MGM opened at $46.11 on Monday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.51. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $51.35. The firm’s fifty day moving average is $41.35 and its 200 day moving average is $42.86. The stock has a market cap of $14.46 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 0.95 and a beta of 2.24.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.24 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. MGM Resorts International’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.44 EPS. On average, sell-side analysts forecast that MGM Resorts International will post 3.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on MGM shares. JMP Securities lifted their target price on shares of MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a research report on Monday, May 6th. Barclays lifted their target price on shares of MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. BTIG Research initiated coverage on shares of MGM Resorts International in a research report on Wednesday, July 3rd. They set a “buy” rating and a $52.00 price objective for the company. Finally, Susquehanna raised shares of MGM Resorts International from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $46.00 to $54.00 in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and a consensus target price of $54.53.

Insiders Place Their Bets

In other MGM Resorts International news, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $41.50, for a total value of $180,276.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the sale, the director now directly owns 5,859,478 shares in the company, valued at approximately $236,957,290.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexis Herman sold 4,344 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $41.50, for a total transaction of $180,276.00. The disclosure for this sale can be found here. Insiders have sold a total of 147,988 shares of company stock worth $5,991,759 in the last 90 days. 2.13% of the stock is currently owned by corporate insiders.

MGM Resorts International Company 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.