Engineers Gate Manager LP grew its position in MGM Resorts International (NYSE:MGM – Get Rating) by 151.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,120 shares of the company’s stock after acquiring an additional 60,245 shares during the quarter. Engineers Gate Manager LP’s holdings in MGM Resorts International were worth $4,199,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of MGM. Chilton Capital Management LLC acquired a new stake in MGM Resorts International in the fourth quarter valued at $25,000. UMB Bank N A MO purchased a new stake in shares of MGM Resorts International during the 4th quarter valued at about $29,000. Capital Advisory Group Advisory Services LLC purchased a new stake in shares of MGM Resorts International during the 1st quarter valued at about $29,000. First Horizon Advisors Inc. raised its holdings in shares of MGM Resorts International by 715.4% during the 1st quarter. First Horizon Advisors Inc. now owns 742 shares of the company’s stock valued at $31,000 after buying an additional 651 shares during the period. Finally, GPS Wealth Strategies Group LLC increased its holdings in MGM Resorts International by 280.0% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 760 shares of the company’s stock worth $32,000 after purchasing an additional 560 shares during the last quarter. 67.54% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on MGM Resorts International from $48.00 to $51.00 in a research report on Thursday, August 4th. Credit Suisse Group cut their target price on MGM Resorts International from $76.00 to $72.00 and set an “outperform” rating on the stock in a research report on Thursday, August 4th. Argus downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a report on Thursday. Citigroup boosted their target price on MGM Resorts International to $58.00 in a research note on Tuesday, August 9th. Finally, StockNews.com downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Friday, July 15th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $53.31.
Insider Buying and Selling
MGM Resorts International Price Performance
Shares of NYSE MGM opened at $35.06 on Friday. The firm’s 50-day moving average price is $32.59 and its 200-day moving average price is $35.77. MGM Resorts International has a 1-year low of $26.41 and a 1-year high of $51.17. The firm has a market capitalization of $13.78 billion, a P/E ratio of 4.91 and a beta of 2.11. The company has a current ratio of 1.65, a quick ratio of 1.63 and a debt-to-equity ratio of 0.99.
MGM Resorts International (NYSE:MGM – Get Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.21). MGM Resorts International had a return on equity of 1.44% and a net margin of 27.33%. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.03 billion. Equities research analysts anticipate that MGM Resorts International will post 0.04 earnings per share for the current fiscal year.
MGM Resorts International Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, September 9th will be given a dividend of $0.0025 per share. This represents a $0.01 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, September 8th. MGM Resorts International’s dividend payout ratio (DPR) is currently 0.14%.
MGM Resorts International Company Profile
MGM Resorts International, through its subsidiaries, owns and operates 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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