Mackenzie Financial Corp increased its holdings in shares of MGM Resorts International (NYSE:MGM – Get Rating) by 17.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,313 shares of the company’s stock after purchasing an additional 4,704 shares during the period. Mackenzie Financial Corp’s holdings in MGM Resorts International were worth $935,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. First Horizon Advisors Inc. boosted its stake in shares of MGM Resorts International by 715.4% during the first quarter. First Horizon Advisors Inc. now owns 742 shares of the company’s stock worth $31,000 after buying an additional 651 shares during the period. Ellevest Inc. raised its stake in MGM Resorts International by 70.4% during the 2nd quarter. Ellevest Inc. now owns 1,072 shares of the company’s stock valued at $31,000 after acquiring an additional 443 shares during the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in MGM Resorts International during the 1st quarter worth approximately $38,000. Assetmark Inc. grew its stake in shares of MGM Resorts International by 116.1% in the 2nd quarter. Assetmark Inc. now owns 1,312 shares of the company’s stock valued at $38,000 after purchasing an additional 705 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of MGM Resorts International by 52.0% in the second quarter. Allworth Financial LP now owns 2,149 shares of the company’s stock valued at $62,000 after purchasing an additional 735 shares during the period. 67.54% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, COO Corey Ian Sanders sold 20,000 shares of the stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $38.00, for a total transaction of $760,000.00. Following the sale, the chief operating officer now owns 311,498 shares of the company’s stock, valued at $11,836,924. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, COO Corey Ian Sanders sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $38.00, for a total transaction of $760,000.00. Following the sale, the chief operating officer now owns 311,498 shares in the company, valued at $11,836,924. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Rose Mckinney-James sold 5,741 shares of the business’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $37.50, for a total value of $215,287.50. Following the completion of the transaction, the director now owns 5,740 shares of the company’s stock, valued at $215,250. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,741 shares of company stock valued at $1,337,388. Corporate insiders own 2.13% of the company’s stock.
MGM Resorts International Stock Up 1.2 %
MGM Resorts International Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Friday, December 9th will be issued a dividend of $0.0025 per share. This represents a $0.01 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, December 8th. MGM Resorts International’s dividend payout ratio (DPR) is presently 0.34%.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the company. Truist Financial increased their price target on MGM Resorts International from $35.00 to $40.00 in a report on Thursday, August 4th. Wells Fargo & Company dropped their price target on shares of MGM Resorts International from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, October 21st. StockNews.com initiated coverage on shares of MGM Resorts International in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley began coverage on MGM Resorts International in a research report on Monday. They set an “equal weight” rating and a $39.00 target price on the stock. Finally, Argus cut MGM Resorts International from a “buy” rating to a “hold” rating in a report on Thursday, September 8th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International has a consensus rating of “Hold” and a consensus target price of $51.03.
MGM Resorts International 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.
- Get a free copy of the StockNews.com research report on MGM Resorts International (MGM)
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