MGM Resorts International (MGM) Holdings Reduced by Regentatlantic Capital LLC

Regentatlantic Capital LLC lowered its position in MGM Resorts International (NYSE:MGM) by 6.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,105 shares of the company’s stock after selling 2,295 shares during the quarter. Regentatlantic Capital LLC’s holdings in MGM Resorts International were worth $1,008,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. MUFG Americas Holdings Corp acquired a new stake in MGM Resorts International in the second quarter valued at $102,000. Garner Asset Management Corp acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth about $151,000. Piedmont Investment Advisors LLC acquired a new stake in shares of MGM Resorts International during the 2nd quarter worth about $170,000. Princeton Capital Management LLC acquired a new stake in shares of MGM Resorts International during the 2nd quarter worth about $218,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of MGM Resorts International during the 2nd quarter worth about $221,000. Hedge funds and other institutional investors own 80.06% of the company’s stock.

Shares of MGM Resorts International stock opened at $27.90 on Friday. MGM Resorts International has a twelve month low of $23.81 and a twelve month high of $38.41. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $13.55 billion, a price-to-earnings ratio of 27.35, a price-to-earnings-growth ratio of 4.97 and a beta of 1.39.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Tuesday, October 30th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.06. MGM Resorts International had a net margin of 16.75% and a return on equity of 4.45%. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the company earned $0.34 EPS. The business’s revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts expect that MGM Resorts International will post 0.94 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Monday, December 10th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Friday, December 7th. MGM Resorts International’s dividend payout ratio (DPR) is 47.06%.

In other MGM Resorts International news, CFO Daniel D’arrigo sold 29,377 shares of the firm’s stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $29.23, for a total value of $858,689.71. Following the transaction, the chief financial officer now directly owns 260,676 shares of the company’s stock, valued at approximately $7,619,559.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alexis Herman sold 1,750 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $28.28, for a total transaction of $49,490.00. The disclosure for this sale can be found here. Insiders sold a total of 34,627 shares of company stock valued at $1,009,155 in the last quarter. Corporate insiders own 12.20% of the company’s stock.

A number of analysts have recently issued reports on MGM shares. Jefferies Financial Group restated a “buy” rating on shares of MGM Resorts International in a research note on Wednesday, August 1st. Telsey Advisory Group cut their target price on shares of MGM Resorts International from $34.00 to $31.00 and set a “market perform” rating for the company in a research note on Friday, August 3rd. Morgan Stanley cut their target price on shares of MGM Resorts International from $39.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, July 20th. Bank of America restated a “buy” rating and set a $30.00 target price on shares of MGM Resorts International in a research note on Tuesday, October 16th. Finally, Nomura cut their target price on shares of MGM Resorts International from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Monday, July 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. MGM Resorts International has an average rating of “Buy” and an average price target of $36.36.

About MGM Resorts International

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

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