Avitas Wealth Management LLC boosted its position in shares of MGM Resorts International (NYSE:MGM) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,169 shares of the company’s stock after purchasing an additional 2,000 shares during the period. Avitas Wealth Management LLC’s holdings in MGM Resorts International were worth $702,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of MGM Resorts International by 22.2% in the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 11,000 shares of the company’s stock worth $307,000 after purchasing an additional 2,000 shares in the last quarter. Gator Capital Management LLC grew its position in shares of MGM Resorts International by 13.1% during the 3rd quarter. Gator Capital Management LLC now owns 17,300 shares of the company’s stock worth $483,000 after buying an additional 2,000 shares during the period. Dupont Capital Management Corp lifted its holdings in shares of MGM Resorts International by 49.2% in the 3rd quarter. Dupont Capital Management Corp now owns 7,809 shares of the company’s stock worth $218,000 after purchasing an additional 2,576 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its stake in MGM Resorts International by 45.5% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 8,526 shares of the company’s stock valued at $238,000 after acquiring an additional 2,666 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in MGM Resorts International by 3.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 92,957 shares of the company’s stock worth $2,594,000 after acquiring an additional 2,716 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.
In related 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 value of $446,931.90. Following the transaction, the insider now directly owns 13,164 shares in the company, valued at approximately $372,014.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.43% of the stock is owned by company insiders.
MGM Resorts International stock remained flat at $$28.00 during mid-day trading on Friday. 8,961,216 shares of the company’s stock were exchanged, compared to its average volume of 11,182,827. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 1.36. MGM Resorts International has a 12-month low of $21.61 and a 12-month high of $38.41. The company has a market cap of $14.56 billion, a P/E ratio of 27.45, a PEG ratio of 3.21 and a beta of 1.29.
MGM Resorts International (NYSE:MGM) last posted its earnings results on Tuesday, October 30th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. MGM Resorts International had a net margin of 16.75% and a return on equity of 4.51%. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts forecast that MGM Resorts International will post 1.08 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 14th. Investors of record on Monday, December 10th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Friday, December 7th. MGM Resorts International’s dividend payout ratio is currently 47.06%.
Several equities analysts have recently issued reports on MGM shares. Bank of America reissued a “buy” rating and set a $30.00 target price on shares of MGM Resorts International in a research note on Tuesday, October 16th. Sanford C. Bernstein assumed coverage on MGM Resorts International in a report on Thursday, November 15th. They issued a “market perform” rating on the stock. Finally, Morgan Stanley reiterated a “buy” rating on shares of MGM Resorts International in a research note on Monday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. MGM Resorts International has a consensus rating of “Hold” and a consensus price target of $35.60.
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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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