21,786 Shares in MGM Resorts International (MGM) Purchased by Kentucky Retirement Systems

Kentucky Retirement Systems bought a new stake in MGM Resorts International (NYSE:MGM) in the fourth quarter, HoldingsChannel.com reports. The firm bought 21,786 shares of the company’s stock, valued at approximately $529,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Canyon Capital Advisors LLC boosted its holdings in MGM Resorts International by 9.0% in the third quarter. Canyon Capital Advisors LLC now owns 21,163,868 shares of the company’s stock valued at $590,684,000 after purchasing an additional 1,749,500 shares during the period. Capital International Investors purchased a new position in MGM Resorts International in the third quarter valued at $376,785,000. Bank of New York Mellon Corp boosted its holdings in MGM Resorts International by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 7,706,111 shares of the company’s stock valued at $215,078,000 after purchasing an additional 102,357 shares during the period. Geode Capital Management LLC boosted its holdings in MGM Resorts International by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 6,387,824 shares of the company’s stock valued at $154,688,000 after purchasing an additional 366,980 shares during the period. Finally, Bank of America Corp DE boosted its holdings in MGM Resorts International by 380.3% in the fourth quarter. Bank of America Corp DE now owns 5,827,720 shares of the company’s stock valued at $141,381,000 after purchasing an additional 4,614,420 shares during the period. Hedge funds and other institutional investors own 80.88% of the company’s stock.

In other MGM Resorts International news, Director Mary Christine Gay purchased 3,700 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were bought at an average cost of $27.27 per share, for a total transaction of $100,899.00. Following the completion of the purchase, the director now directly owns 18,036 shares in the company, valued at $491,841.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.47% of the stock is owned by company insiders.

MGM Resorts International stock opened at $26.59 on Tuesday. MGM Resorts International has a 1-year low of $21.61 and a 1-year high of $36.80. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.82 and a current ratio of 0.86. The firm has a market capitalization of $13.78 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 3.57 and a beta of 1.38.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 13th. The company reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. MGM Resorts International had a return on equity of 5.23% and a net margin of 3.96%. The company had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.01 billion. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, analysts anticipate that MGM Resorts International will post 1.15 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 8th were paid a $0.13 dividend. The ex-dividend date was Thursday, March 7th. This is a boost from MGM Resorts International’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.96%. MGM Resorts International’s dividend payout ratio (DPR) is currently 52.53%.

A number of research firms recently issued reports on MGM. Deutsche Bank reiterated a “hold” rating and issued a $32.00 target price on shares of MGM Resorts International in a report on Monday, March 25th. Zacks Investment Research lowered MGM Resorts International from a “hold” rating to a “strong sell” rating in a report on Monday, February 18th. Morgan Stanley lifted their target price on MGM Resorts International from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, February 14th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $30.00 target price on shares of MGM Resorts International in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. MGM Resorts International has an average rating of “Hold” and a consensus target price of $33.50.

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About MGM Resorts International

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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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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