WINTON GROUP Ltd trimmed its holdings in shares of MGM Resorts International (NYSE:MGM) by 10.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 152,931 shares of the company’s stock after selling 18,665 shares during the period. WINTON GROUP Ltd’s holdings in MGM Resorts International were worth $5,106,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of MGM Resorts International by 19.9% during the fourth quarter. BlackRock Inc. now owns 35,609,163 shares of the company’s stock worth $1,188,991,000 after purchasing an additional 5,897,782 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in shares of MGM Resorts International by 26.4% during the fourth quarter. Maverick Capital Ltd. now owns 8,867,800 shares of the company’s stock worth $296,096,000 after purchasing an additional 1,852,880 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of MGM Resorts International by 70.3% during the third quarter. Bank of New York Mellon Corp now owns 3,199,526 shares of the company’s stock worth $104,272,000 after purchasing an additional 1,320,446 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of MGM Resorts International by 1,016.1% during the third quarter. Victory Capital Management Inc. now owns 1,278,963 shares of the company’s stock worth $41,681,000 after purchasing an additional 1,164,374 shares during the last quarter. Finally, Carillon Tower Advisers Inc. acquired a new stake in shares of MGM Resorts International during the fourth quarter worth $37,539,000. 82.52% of the stock is owned by hedge funds and other institutional investors.
Shares of MGM Resorts International (NYSE MGM) traded down $0.10 during midday trading on Wednesday, hitting $35.69. The stock had a trading volume of 4,640,000 shares, compared to its average volume of 8,800,000. The stock has a market capitalization of $20,210.00, a price-to-earnings ratio of 38.38, a price-to-earnings-growth ratio of 1.75 and a beta of 1.45. MGM Resorts International has a twelve month low of $25.21 and a twelve month high of $38.41. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.73 and a current ratio of 0.77.
MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.04. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.51 billion. MGM Resorts International had a return on equity of 5.78% and a net margin of 17.92%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $0.11 earnings per share. research analysts expect that MGM Resorts International will post 1.39 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Friday, March 9th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.34%. This is an increase from MGM Resorts International’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, March 8th. MGM Resorts International’s dividend payout ratio (DPR) is 51.61%.
In other MGM Resorts International news, insider Corey Ian Sanders sold 23,134 shares of MGM Resorts International stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $36.68, for a total value of $848,555.12. Following the completion of the transaction, the insider now directly owns 203,425 shares in the company, valued at $7,461,629. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alexis Herman sold 4,350 shares of MGM Resorts International stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $36.63, for a total value of $159,340.50. Following the completion of the transaction, the director now owns 3,935 shares of the company’s stock, valued at $144,139.05. The disclosure for this sale can be found here. Insiders sold 142,646 shares of company stock valued at $5,104,710 over the last quarter. Insiders own 12.20% of the company’s stock.
MGM has been the topic of a number of research analyst reports. Bank of America lifted their target price on MGM Resorts International from $38.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Zacks Investment Research upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Monday, February 5th. Jefferies Group initiated coverage on MGM Resorts International in a report on Thursday, January 18th. They issued a “buy” rating and a $43.00 target price on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $37.00 target price (up previously from $36.00) on shares of MGM Resorts International in a report on Wednesday, February 21st. Finally, Telsey Advisory Group began coverage on MGM Resorts International in a report on Wednesday. They issued a “market perform” rating and a $39.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. MGM Resorts International presently has a consensus rating of “Buy” and an average price target of $37.94.
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About MGM Resorts International
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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