National Pension Service Grows Position in MGM Resorts International (NYSE:MGM)

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National Pension Service lifted its stake in MGM Resorts International (NYSE:MGM) by 5.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 763,549 shares of the company’s stock after buying an additional 39,866 shares during the quarter. National Pension Service’s holdings in MGM Resorts International were worth $21,166,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of MGM Resorts International by 27.2% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 85,137 shares of the company’s stock worth $2,432,000 after buying an additional 18,193 shares in the last quarter. Beach Point Capital Management LP lifted its holdings in shares of MGM Resorts International by 17.6% in the second quarter. Beach Point Capital Management LP now owns 958,234 shares of the company’s stock worth $27,377,000 after buying an additional 143,342 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of MGM Resorts International by 0.9% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 396,076 shares of the company’s stock worth $11,264,000 after buying an additional 3,602 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of MGM Resorts International by 2.6% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 19,856 shares of the company’s stock worth $550,000 after buying an additional 498 shares in the last quarter. Finally, Haverford Trust Co. lifted its holdings in shares of MGM Resorts International by 181.8% in the third quarter. Haverford Trust Co. now owns 75,180 shares of the company’s stock worth $2,084,000 after buying an additional 48,500 shares in the last quarter. 81.65% of the stock is currently owned by hedge funds and other institutional investors.

MGM has been the topic of a number of recent research reports. TheStreet downgraded shares of MGM Resorts International from a “b-” rating to a “c” rating in a research note on Wednesday, October 30th. Deutsche Bank set a $34.00 price target on shares of MGM Resorts International and gave the company a “hold” rating in a research note on Tuesday, September 17th. ValuEngine downgraded shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. Roth Capital reaffirmed a “buy” rating on shares of MGM Resorts International in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. decreased their price target on shares of MGM Resorts International from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $31.50.

MGM stock opened at $31.95 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 1.47. MGM Resorts International has a twelve month low of $21.61 and a twelve month high of $32.24. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 39.94, a price-to-earnings-growth ratio of 5.26 and a beta of 1.52. The firm’s fifty day simple moving average is $29.77 and its two-hundred day simple moving average is $28.37.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.37). MGM Resorts International had a net margin of 0.11% and a return on equity of 4.10%. The firm had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the firm earned $0.24 EPS. The company’s revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts expect that MGM Resorts International will post 0.9 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, December 10th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Monday, December 9th. MGM Resorts International’s payout ratio is presently 52.53%.

In other MGM Resorts International news, Director Keith A. Meister bought 79,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were bought at an average cost of $29.43 per share, for a total transaction of $2,324,970.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Keith A. Meister bought 295,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $32.04 per share, for a total transaction of $9,451,800.00. Corporate insiders own 3.47% of the company’s stock.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates integrated 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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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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