Great West Life Assurance Co. Can lowered its position in MGM Resorts International (NYSE:MGM) by 12.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 321,244 shares of the company’s stock after selling 45,963 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.06% of MGM Resorts International worth $8,975,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in MGM. Bank of New York Mellon Corp grew its stake in MGM Resorts International by 143.3% in the second quarter. Bank of New York Mellon Corp now owns 7,603,754 shares of the company’s stock worth $220,738,000 after purchasing an additional 4,478,383 shares in the last quarter. BlackRock Inc. grew its stake in MGM Resorts International by 8.8% in the second quarter. BlackRock Inc. now owns 38,976,350 shares of the company’s stock worth $1,131,484,000 after purchasing an additional 3,163,587 shares in the last quarter. Morgan Stanley grew its stake in MGM Resorts International by 71.5% in the second quarter. Morgan Stanley now owns 6,199,539 shares of the company’s stock worth $179,973,000 after purchasing an additional 2,584,993 shares in the last quarter. Epoch Investment Partners Inc. grew its stake in MGM Resorts International by 6,435.4% in the second quarter. Epoch Investment Partners Inc. now owns 1,910,304 shares of the company’s stock worth $55,456,000 after purchasing an additional 1,881,074 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in MGM Resorts International by 89.5% in the third quarter. Public Employees Retirement Association of Colorado now owns 2,286,094 shares of the company’s stock worth $63,805,000 after purchasing an additional 1,079,732 shares in the last quarter. 80.85% of the stock is currently owned by institutional investors.
Shares of NYSE MGM opened at $25.99 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.36. The firm has a market cap of $14.46 billion, a price-to-earnings ratio of 32.64, a P/E/G ratio of 4.49 and a beta of 1.40. MGM Resorts International has a 12-month low of $23.81 and a 12-month high of $38.41.
MGM Resorts International (NYSE:MGM) last announced its earnings results 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 business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.99 billion. MGM Resorts International had a return on equity of 4.51% and a net margin of 16.75%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. As a group, equities research analysts expect that MGM Resorts International will post 1.08 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Monday, December 10th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, December 7th. This represents a $0.48 annualized dividend and a yield of 1.85%. MGM Resorts International’s dividend payout ratio (DPR) is presently 47.06%.
Several research analysts recently issued reports on MGM shares. Bank of America reissued a “buy” rating and issued a $30.00 price objective on shares of MGM Resorts International in a research note on Tuesday, October 16th. Morgan Stanley reissued a “buy” rating on shares of MGM Resorts International in a research note on Monday, December 3rd. Sanford C. Bernstein started coverage on MGM Resorts International in a research note on Thursday, November 15th. They issued a “market perform” rating on the stock. Finally, Credit Suisse Group started coverage on MGM Resorts International in a research note on Tuesday, August 14th. They issued a “neutral” rating and a $31.00 price objective on the stock. One equities research 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. MGM Resorts International currently has a consensus rating of “Hold” and a consensus target price of $36.36.
In other MGM Resorts International news, insider Phyllis James sold 15,815 shares of the stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $28.26, for a total transaction of $446,931.90. Following the sale, the insider now owns 13,164 shares of the company’s stock, valued at approximately $372,014.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.20% of the stock is currently 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 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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