Man Group plc raised its position in shares of MGM Resorts International (NYSE:MGM) by 1,378.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 958,342 shares of the company’s stock after purchasing an additional 893,503 shares during the period. Man Group plc owned approximately 0.18% of MGM Resorts International worth $31,884,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGM. State Street Corp raised its position in MGM Resorts International by 1.4% during the third quarter. State Street Corp now owns 20,970,239 shares of the company’s stock valued at $581,295,000 after purchasing an additional 298,459 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of MGM Resorts International during the third quarter valued at about $1,279,000. Chevy Chase Trust Holdings Inc. grew its stake in shares of MGM Resorts International by 2.2% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 437,036 shares of the company’s stock valued at $12,115,000 after buying an additional 9,418 shares during the last quarter. Virtu Financial LLC grew its stake in shares of MGM Resorts International by 135.7% during the third quarter. Virtu Financial LLC now owns 36,511 shares of the company’s stock valued at $1,012,000 after buying an additional 21,022 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in shares of MGM Resorts International by 2.7% during the third quarter. Stifel Financial Corp now owns 456,327 shares of the company’s stock valued at $12,653,000 after buying an additional 12,193 shares during the last quarter. Institutional investors and hedge funds own 86.26% of the company’s stock.
NYSE MGM opened at $12.95 on Thursday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.26 and a quick ratio of 1.22. The stock has a market capitalization of $6.00 billion, a PE ratio of 3.27, a PEG ratio of 3.85 and a beta of 1.58. MGM Resorts International has a 1 year low of $5.90 and a 1 year high of $34.63. The business’s 50-day moving average is $23.15 and its 200 day moving average is $28.83.
MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.16). The business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.21 billion. MGM Resorts International had a return on equity of 3.50% and a net margin of 15.89%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) earnings per share. As a group, equities research analysts anticipate that MGM Resorts International will post 0.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Tuesday, March 10th were paid a $0.15 dividend. The ex-dividend date was Monday, March 9th. This is a boost from MGM Resorts International’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 4.63%. MGM Resorts International’s dividend payout ratio (DPR) is presently 77.92%.
A number of research analysts have recently issued reports on the company. Cfra cut MGM Resorts International to a “sell” rating in a research note on Friday, February 7th. Argus cut MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Thursday, March 12th. Morgan Stanley reduced their price objective on MGM Resorts International from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Barclays raised their price objective on MGM Resorts International from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Finally, TheStreet raised MGM Resorts International from a “c” rating to a “b+” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $31.27.
In related news, CEO James Murren sold 303,160 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $32.15, for a total value of $9,746,594.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.47% of the stock is owned by company insiders.
MGM Resorts International Profile
MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
Recommended Story: Special Dividends
Want to see what other hedge funds are holding MGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGM Resorts International (NYSE:MGM).
Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with MarketBeat.com's FREE daily email newsletter.