Neuberger Berman Group LLC lifted its position in MGM Resorts International (NYSE:MGM) by 1.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,202,010 shares of the company’s stock after purchasing an additional 12,867 shares during the period. Neuberger Berman Group LLC owned about 0.21% of MGM Resorts International worth $39,174,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Cigna Investments Inc. New purchased a new stake in MGM Resorts International in the second quarter worth $206,000. Schwab Charles Investment Management Inc. lifted its stake in MGM Resorts International by 5.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 954,302 shares of the company’s stock worth $29,861,000 after acquiring an additional 51,780 shares during the period. First Trust Advisors LP lifted its stake in MGM Resorts International by 28.1% in the second quarter. First Trust Advisors LP now owns 229,319 shares of the company’s stock worth $7,175,000 after acquiring an additional 50,307 shares during the period. State of Wisconsin Investment Board lifted its stake in MGM Resorts International by 33.2% in the second quarter. State of Wisconsin Investment Board now owns 406,373 shares of the company’s stock worth $12,715,000 after acquiring an additional 101,180 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in MGM Resorts International by 4.9% in the second quarter. Bank of New York Mellon Corp now owns 1,879,080 shares of the company’s stock worth $58,796,000 after acquiring an additional 87,622 shares during the period. Hedge funds and other institutional investors own 82.96% of the company’s stock.
Shares of MGM Resorts International (MGM) traded up $1.19 during trading hours on Thursday, hitting $35.11. The company had a trading volume of 7,496,611 shares, compared to its average volume of 6,900,000. The company has a market cap of $19,880.00, a P/E ratio of 34.42, a PEG ratio of 6.34 and a beta of 1.45. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. MGM Resorts International has a 52 week low of $25.15 and a 52 week high of $35.13.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Monday, December 11th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, December 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.25%. MGM Resorts International’s dividend payout ratio (DPR) is presently 43.14%.
In other MGM Resorts International news, Director Sean Charland purchased 25,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were bought at an average cost of $22.50 per share, with a total value of $562,500.00. Also, Director William A. Bible sold 6,128 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $33.23, for a total value of $203,633.44. Following the completion of the transaction, the director now directly owns 27,081 shares in the company, valued at $899,901.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,877 shares of company stock valued at $3,187,002. 12.20% of the stock is currently owned by corporate insiders.
MGM has been the subject of several recent research reports. Barclays reissued an “overweight” rating on shares of MGM Resorts International in a research report on Monday, October 2nd. UBS Group lowered MGM Resorts International from a “positive” rating to a “neutral” rating in a research report on Tuesday, October 3rd. Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $33.00 price target (down previously from $38.00) on shares of MGM Resorts International in a research report on Tuesday, October 3rd. Instinet reaffirmed a “buy” rating and issued a $40.00 price target on shares of MGM Resorts International in a research report on Tuesday, October 3rd. Finally, Morgan Stanley set a $35.00 price target on MGM Resorts International and gave the stock a “buy” rating in a research report on Friday, October 6th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $36.79.
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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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