MGM Resorts International (MGM) Position Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its position in shares of MGM Resorts International (NYSE:MGM) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,341 shares of the company’s stock after selling 3,991 shares during the period. Mutual of America Capital Management LLC’s holdings in MGM Resorts International were worth $2,048,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new stake in MGM Resorts International during the third quarter worth $87,164,000. Janus Henderson Group PLC lifted its holdings in MGM Resorts International by 1,978.3% during the second quarter. Janus Henderson Group PLC now owns 1,106,856 shares of the company’s stock valued at $34,634,000 after purchasing an additional 1,053,597 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in MGM Resorts International by 5.1% during the third quarter. Asset Management One Co. Ltd. now owns 712,424 shares of the company’s stock valued at $23,209,000 after purchasing an additional 34,625 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in MGM Resorts International by 44.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 49,284 shares of the company’s stock valued at $1,542,000 after purchasing an additional 15,071 shares in the last quarter. Finally, Cadence Capital Management LLC purchased a new position in MGM Resorts International during the third quarter valued at $351,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International (NYSE:MGM) opened at $33.20 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.02 and a quick ratio of 0.98. The firm has a market cap of $18,926.00, a PE ratio of 29.58, a PEG ratio of 5.88 and a beta of 1.44. MGM Resorts International has a 52 week low of $25.15 and a 52 week high of $38.41.

MGM has been the topic of several recent analyst reports. Stifel Nicolaus downgraded shares of MGM Resorts International from a “buy” rating to a “hold” rating and decreased their price objective for the company from $38.00 to $33.00 in a report on Wednesday, October 18th. Zacks Investment Research downgraded shares of MGM Resorts International from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Roth Capital initiated coverage on shares of MGM Resorts International in a report on Wednesday, October 25th. They set a “buy” rating and a $38.00 price objective on the stock. Nomura decreased their price objective on shares of MGM Resorts International from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of MGM Resorts International from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, November 1st. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. MGM Resorts International has a consensus rating of “Buy” and a consensus price target of $37.38.

In other news, Director William A. Bible sold 6,128 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $33.23, for a total value of $203,633.44. Following the transaction, the director now directly owns 27,081 shares of the company’s stock, valued at $899,901.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sean Charland purchased 25,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was acquired at an average cost of $22.50 per share, for a total transaction of $562,500.00. Over the last three months, insiders sold 86,877 shares of company stock worth $2,853,502. Insiders own 12.20% of the company’s stock.

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About MGM Resorts International

MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.

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

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