MANA Advisors LLC acquired a new stake in shares of MGM Resorts International (NYSE:MGM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,170 shares of the company’s stock, valued at approximately $507,000.
Several other hedge funds and other institutional investors have also modified their holdings of MGM. Concourse Capital Management LLC boosted its position in MGM Resorts International by 0.7% during the 3rd quarter. Concourse Capital Management LLC now owns 294,434 shares of the company’s stock valued at $9,596,000 after acquiring an additional 2,018 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in MGM Resorts International by 2.5% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 85,200 shares of the company’s stock valued at $2,788,000 after acquiring an additional 2,111 shares in the last quarter. Norinchukin Bank The boosted its position in MGM Resorts International by 5.7% during the 4th quarter. Norinchukin Bank The now owns 40,739 shares of the company’s stock valued at $1,360,000 after acquiring an additional 2,208 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of MGM Resorts International by 88.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,945 shares of the company’s stock valued at $165,000 after purchasing an additional 2,318 shares during the last quarter. Finally, Brown Advisory Inc. lifted its holdings in shares of MGM Resorts International by 13.9% during the 3rd quarter. Brown Advisory Inc. now owns 19,486 shares of the company’s stock valued at $635,000 after purchasing an additional 2,374 shares during the last quarter. Hedge funds and other institutional investors own 82.50% of the company’s stock.
A number of brokerages recently issued reports on MGM. Morgan Stanley lifted their price objective on MGM Resorts International from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, March 27th. Zacks Investment Research upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, February 5th. Barclays raised their target price on MGM Resorts International from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Stifel Nicolaus reiterated a “hold” rating and issued a $37.00 price objective (up from $36.00) on shares of MGM Resorts International in a report on Wednesday, February 21st. Finally, Telsey Advisory Group started coverage on MGM Resorts International in a report on Wednesday, March 14th. They issued a “market perform” rating and a $39.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. MGM Resorts International currently has a consensus rating of “Buy” and a consensus target price of $38.38.
In other news, President William Hornbuckle sold 60,000 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $36.36, for a total value of $2,181,600.00. Following the completion of the sale, the president now directly owns 26,289 shares of the company’s stock, valued at $955,868.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel J. Taylor sold 12,536 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $34.67, for a total transaction of $434,623.12. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 46,000 shares of company stock valued at $49,000 and sold 142,646 shares valued at $5,104,710. Corporate insiders own 0.43% of the company’s stock.
Shares of MGM Resorts International stock traded down $1.14 during trading hours on Monday, reaching $33.88. 7,719,764 shares of the company were exchanged, compared to its average volume of 8,228,813. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $19,834.19, a P/E ratio of 33.22, a P/E/G ratio of 1.66 and a beta of 1.40. MGM Resorts International has a 1 year low of $27.01 and a 1 year high of $38.41.
MGM Resorts International (NYSE:MGM) last issued its earnings results on Tuesday, February 20th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.51 billion. MGM Resorts International had a net margin of 17.92% and a return on equity of 5.78%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 earnings per share. sell-side analysts predict that MGM Resorts International will post 1.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Friday, March 9th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Thursday, March 8th. This is an increase from MGM Resorts International’s previous quarterly dividend of $0.11. MGM Resorts International’s dividend payout ratio is currently 47.06%.
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MGM Resorts International Company Profile
MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
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