Asset Management One Co. Ltd. grew its position in MGM Resorts International (NYSE:MGM) by 22.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 294,059 shares of the company’s stock after purchasing an additional 53,817 shares during the period. Asset Management One Co. Ltd. owned approximately 0.06% of MGM Resorts International worth $8,402,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Securian Asset Management Inc increased its stake in shares of MGM Resorts International by 0.7% during the 2nd quarter. Securian Asset Management Inc now owns 52,489 shares of the company’s stock worth $1,500,000 after purchasing an additional 376 shares during the last quarter. Capital Management Associates NY lifted its holdings in MGM Resorts International by 2.6% during the 2nd quarter. Capital Management Associates NY now owns 15,950 shares of the company’s stock valued at $456,000 after purchasing an additional 400 shares during the last quarter. Oakbrook Investments LLC raised its stake in shares of MGM Resorts International by 1.1% in the second quarter. Oakbrook Investments LLC now owns 51,437 shares of the company’s stock worth $1,470,000 after acquiring an additional 550 shares during the last quarter. Boyar Asset Management Inc. raised its stake in shares of MGM Resorts International by 2.1% in the second quarter. Boyar Asset Management Inc. now owns 29,400 shares of the company’s stock worth $840,000 after acquiring an additional 600 shares during the last quarter. Finally, Penserra Capital Management LLC raised its stake in shares of MGM Resorts International by 18.8% in the first quarter. Penserra Capital Management LLC now owns 3,859 shares of the company’s stock worth $99,000 after acquiring an additional 611 shares during the last quarter. Institutional investors and hedge funds own 82.58% of the company’s stock.
Several brokerages have recently commented on MGM. JPMorgan Chase & Co. lowered their price target on shares of MGM Resorts International from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, September 6th. Argus lifted their price target on shares of MGM Resorts International to $35.00 and gave the company a “buy” rating in a research note on Monday, July 29th. UBS Group upped their price target on shares of MGM Resorts International from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. Susquehanna Bancshares assumed coverage on shares of MGM Resorts International in a report on Wednesday, July 24th. They issued a “negative” rating and a $23.00 price objective on the stock. Finally, Morgan Stanley decreased their price target on shares of MGM Resorts International from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. MGM Resorts International presently has an average rating of “Hold” and a consensus target price of $31.09.
NYSE:MGM traded up $0.65 on Friday, reaching $28.08. 4,703,268 shares of the stock traded hands, compared to its average volume of 5,278,037. The firm has a market capitalization of $14.64 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 3.35 and a beta of 1.48. MGM Resorts International has a 1-year low of $21.61 and a 1-year high of $31.68. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 1.39. The company’s 50 day moving average is $28.09 and its 200-day moving average is $27.63.
MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). MGM Resorts International had a return on equity of 3.77% and a net margin of 1.56%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same period last year, the business earned $0.26 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities research analysts forecast that MGM Resorts International will post 0.85 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 10th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Monday, September 9th. MGM Resorts International’s payout ratio is currently 52.53%.
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.
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