Axiom International Investors LLC DE cut its holdings in MGM Resorts International (NYSE:MGM) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 522,170 shares of the company’s stock after selling 5,415 shares during the period. Axiom International Investors LLC DE owned about 0.10% of MGM Resorts International worth $14,574,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. MUFG Americas Holdings Corp bought a new stake in shares of MGM Resorts International in the 2nd quarter worth about $102,000. Stratos Wealth Partners LTD. purchased a new position in shares of MGM Resorts International during the 3rd quarter worth about $102,000. Piedmont Investment Advisors LLC purchased a new position in shares of MGM Resorts International during the 2nd quarter worth about $170,000. Cornerstone Wealth Management LLC purchased a new position in shares of MGM Resorts International during the 2nd quarter worth about $250,000. Finally, Zeke Capital Advisors LLC purchased a new position in shares of MGM Resorts International during the 3rd quarter worth about $206,000. Hedge funds and other institutional investors own 80.71% of the company’s stock.
A number of equities analysts recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of MGM Resorts International in a research note on Thursday, November 15th. They set a “market perform” rating for the company. Telsey Advisory Group dropped their price target 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. Barclays dropped their price target on shares of MGM Resorts International from $39.00 to $37.00 and set an “overweight” rating for the company in a research note on Monday, August 6th. Stifel Nicolaus reaffirmed a “hold” rating and set a $33.00 price target (down from $37.00) on shares of MGM Resorts International in a research note on Friday, August 3rd. Finally, Credit Suisse Group assumed coverage on shares of MGM Resorts International in a research note on Tuesday, August 14th. They set a “neutral” rating and a $31.00 price target for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $36.36.
MGM Resorts International stock opened at $27.32 on Friday. The stock has a market capitalization of $14.46 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 3.50 and a beta of 1.39. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.74 and a quick ratio of 0.71. MGM Resorts International has a 1 year low of $23.81 and a 1 year high of $38.41.
MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Tuesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.06. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.99 billion. MGM Resorts International had a net margin of 16.75% and a return on equity of 4.51%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. As a group, research analysts expect that MGM Resorts International will post 1.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Monday, December 10th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $0.48 annualized dividend and a yield of 1.76%. MGM Resorts International’s dividend payout ratio (DPR) is 47.06%.
In other MGM Resorts International news, insider Phyllis James sold 15,815 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $28.26, for a total value of $446,931.90. Following the completion of the sale, the insider now directly owns 13,164 shares of the company’s stock, valued at approximately $372,014.64. The transaction was disclosed in a filing with the SEC, which is available through this link. 12.20% of the stock is owned by 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 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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