Bank of Montreal Can boosted its stake in MGM Resorts International (NYSE:MGM) by 141.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 394,818 shares of the company’s stock after buying an additional 230,984 shares during the period. Bank of Montreal Can owned about 0.07% of MGM Resorts International worth $12,353,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of MGM. IFP Advisors Inc raised its position in shares of MGM Resorts International by 0.7% in the first quarter. IFP Advisors Inc now owns 4,558 shares of the company’s stock valued at $125,000 after buying an additional 31 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in MGM Resorts International by 15.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,521 shares of the company’s stock valued at $129,000 after buying an additional 606 shares during the last quarter. Toronto Dominion Bank boosted its stake in MGM Resorts International by 28.0% in the first quarter. Toronto Dominion Bank now owns 5,020 shares of the company’s stock valued at $138,000 after buying an additional 1,099 shares during the last quarter. MUFG Americas Holdings Corp purchased a new stake in MGM Resorts International during the first quarter valued at approximately $198,000. Finally, Global X Management Co. LLC boosted its stake in MGM Resorts International by 30.4% in the first quarter. Global X Management Co. LLC now owns 7,403 shares of the company’s stock valued at $203,000 after buying an additional 1,724 shares during the last quarter. Institutional investors own 73.49% of the company’s stock.
Shares of MGM Resorts International (NYSE:MGM) opened at 31.49 on Thursday. The firm has a market cap of $18.11 billion, a PE ratio of 18.63 and a beta of 1.48. MGM Resorts International has a 1-year low of $23.38 and a 1-year high of $34.53. The company’s 50-day moving average price is $32.45 and its 200 day moving average price is $29.92.
MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.67 billion. MGM Resorts International had a net margin of 9.15% and a return on equity of 13.11%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 earnings per share. On average, analysts predict that MGM Resorts International will post $1.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, September 11th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Friday, September 8th. MGM Resorts International’s payout ratio is currently 26.04%.
MGM has been the topic of a number of analyst reports. BidaskClub cut MGM Resorts International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 1st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $36.00 price objective (up from $32.00) on shares of MGM Resorts International in a report on Thursday, April 27th. Aegis reaffirmed a “buy” rating and issued a $35.00 price objective (up from $33.00) on shares of MGM Resorts International in a report on Saturday, April 29th. UBS AG reaffirmed a “buy” rating on shares of MGM Resorts International in a report on Monday, July 10th. Finally, Nomura reaffirmed a “buy” rating and issued a $35.00 price objective on shares of MGM Resorts International in a report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $34.59.
In other MGM Resorts International news, EVP John Mcmanus sold 10,000 shares of MGM Resorts International stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $31.28, for a total transaction of $312,800.00. Following the completion of the transaction, the executive vice president now owns 46,917 shares in the company, valued at $1,467,563.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mary Christine Gay sold 3,000 shares of MGM Resorts International stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $31.88, for a total transaction of $95,640.00. Following the transaction, the director now owns 11,208 shares of the company’s stock, valued at approximately $357,311.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,501 shares of company stock valued at $3,417,518. 12.20% of the stock is currently owned by company insiders.
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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