Metropolitan Life Insurance Co NY Purchases 1,651 Shares of MGM Resorts International (NYSE:MGM)

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Metropolitan Life Insurance Co NY raised its position in shares of MGM Resorts International (NYSE:MGM) by 2.1% during the third quarter, HoldingsChannel reports. The firm owned 80,693 shares of the company’s stock after purchasing an additional 1,651 shares during the period. Metropolitan Life Insurance Co NY’s holdings in MGM Resorts International were worth $2,237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of MGM Resorts International by 3,000.0% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 930 shares of the company’s stock worth $27,000 after purchasing an additional 900 shares in the last quarter. Trust Co. of Vermont purchased a new position in shares of MGM Resorts International during the 2nd quarter valued at about $43,000. Stephens Inc. AR lifted its position in MGM Resorts International by 33.6% in the 3rd quarter. Stephens Inc. AR now owns 2,193 shares of the company’s stock worth $61,000 after buying an additional 552 shares during the last quarter. Resources Investment Advisors LLC. lifted its position in MGM Resorts International by 256.4% in the 2nd quarter. Resources Investment Advisors LLC. now owns 2,780 shares of the company’s stock worth $79,000 after buying an additional 2,000 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in MGM Resorts International in the third quarter worth approximately $82,000. Institutional investors and hedge funds own 81.65% of the company’s stock.

NYSE:MGM opened at $31.62 on Wednesday. The firm has a market capitalization of $16.66 billion, a P/E ratio of 31.94, a P/E/G ratio of 5.26 and a beta of 1.52. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 1.47. The company has a fifty day moving average of $30.09 and a 200 day moving average of $28.50. MGM Resorts International has a 52 week low of $21.61 and a 52 week high of $32.24.

MGM Resorts International (NYSE:MGM) last announced its quarterly 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 return on equity of 4.10% and a net margin of 0.11%. The firm had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period last year, the business earned $0.24 EPS. MGM Resorts International’s revenue was up 9.4% on a year-over-year basis. As a group, analysts anticipate that MGM Resorts International will post 0.9 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, December 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.64%. MGM Resorts International’s dividend payout ratio is currently 52.53%.

Several research analysts have commented on the stock. Roth Capital reissued a “buy” rating on shares of MGM Resorts International in a research note on Thursday, October 31st. Nomura upped their price objective on shares of MGM Resorts International from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Morgan Stanley reduced their target price on shares of MGM Resorts International from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. TheStreet cut shares of MGM Resorts International from a “b-” rating to a “c” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered their price target on shares of MGM Resorts International from $37.00 to $36.00 and set an “overweight” rating for the company 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 issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $31.50.

In other MGM Resorts International news, Director Keith A. Meister bought 295,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $32.04 per share, for a total transaction of $9,451,800.00. Also, Director Keith A. Meister bought 79,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were acquired at an average price of $29.43 per share, with a total value of $2,324,970.00. The disclosure for this purchase can be found here. 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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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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