Penserra Capital Management LLC Boosts Stock Holdings in MGM Resorts International (NYSE:MGM)

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Penserra Capital Management LLC boosted its position in MGM Resorts International (NYSE:MGM) by 8.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,971 shares of the company’s stock after purchasing an additional 393 shares during the period. Penserra Capital Management LLC’s holdings in MGM Resorts International were worth $137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its stake in MGM Resorts International by 7.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 56,685,971 shares of the company’s stock valued at $1,619,519,000 after purchasing an additional 3,806,520 shares during the last quarter. State Street Corp lifted its stake in MGM Resorts International by 1.4% in the third quarter. State Street Corp now owns 20,970,239 shares of the company’s stock valued at $581,295,000 after purchasing an additional 298,459 shares during the last quarter. Corvex Management LP lifted its stake in MGM Resorts International by 31.0% in the second quarter. Corvex Management LP now owns 20,563,696 shares of the company’s stock valued at $587,505,000 after purchasing an additional 4,870,924 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in MGM Resorts International by 5.8% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,112,250 shares of the company’s stock valued at $231,767,000 after purchasing an additional 441,381 shares during the last quarter. Finally, Primecap Management Co. CA lifted its stake in MGM Resorts International by 19.8% in the second quarter. Primecap Management Co. CA now owns 5,347,700 shares of the company’s stock valued at $152,784,000 after purchasing an additional 883,500 shares during the last quarter. Institutional investors and hedge funds own 81.65% of the company’s stock.

Several equities analysts recently commented on the company. Nomura upped their price objective on MGM Resorts International from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Deutsche Bank set a $34.00 price objective on MGM Resorts International and gave the company a “hold” rating in a research note on Tuesday, September 17th. UBS Group upped their price objective on MGM Resorts International from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Roth Capital reiterated a “buy” rating on shares of MGM Resorts International in a research note on Thursday, October 31st. Finally, TheStreet downgraded MGM Resorts International from a “b-” rating to a “c” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. MGM Resorts International currently has an average rating of “Hold” and a consensus price target of $31.50.

In other MGM Resorts International news, Director Keith A. Meister bought 295,000 shares of the stock in a transaction on Friday, November 15th. The shares were acquired at an average price of $32.04 per share, with a total value of $9,451,800.00. Also, Director Rose Mckinney-James sold 2,670 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $28.15, for a total transaction of $75,160.50. Following the completion of the transaction, the director now directly owns 4,616 shares in the company, valued at approximately $129,940.40. The disclosure for this sale can be found here. Insiders own 3.47% of the company’s stock.

Shares of MGM stock opened at $31.95 on Monday. The company’s fifty day simple moving average is $29.77 and its two-hundred day simple moving average is $28.37. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.87 and a quick ratio of 0.84. MGM Resorts International has a 1 year low of $21.61 and a 1 year high of $32.24. The stock has a market capitalization of $16.78 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 5.30 and a beta of 1.48.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, October 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $3.31 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the previous year, the firm earned $0.24 EPS. The company’s revenue was up 9.4% compared to the same quarter last year. Equities research analysts anticipate that MGM Resorts International will post 0.9 EPS for the current year.

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

MGM Resorts International Company Profile

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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Want to see what other hedge funds are holding MGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGM Resorts International (NYSE:MGM).

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

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