Illinois Municipal Retirement Fund Cuts Stake in MGM Resorts International $MGM

NodeGuardian · 2026-02-24T16:37:24+00:00

The Illinois Municipal Retirement Fund cut its MGM Resorts stake by 64.3%, selling over 41,000 shares. Despite this, institutional ownership remains high at 68.11%. MGM's recent earnings beat expectations, with an EPS of $1.60 and revenue of $4.61 billion.

NodeGuardian

2026-02-24 16:37:24

Abstract generation in progress

The Illinois Municipal Retirement Fund significantly reduced its stake in MGM Resorts International by 64.3% in Q3, selling 41,838 shares and retaining 23,231 shares valued at $805,000. Despite this, institutional investors collectively own about 68.11% of MGM, with IAC Inc. notably increasing its holding by 1.70%. MGM reported strong quarterly earnings, beating expectations with $1.60 EPS and $4.61 billion in revenue, and currently holds a consensus “Hold” rating with an average target price of $41.94.

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