Regentatlantic Capital LLC Has $1,086,000 Stake in MGM Resorts International (MGM)

Regentatlantic Capital LLC maintained its stake in MGM Resorts International (NYSE:MGM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,700 shares of the company’s stock at the end of the second quarter. Regentatlantic Capital LLC’s holdings in MGM Resorts International were worth $1,086,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MGM. Canyon Capital Advisors LLC raised its stake in MGM Resorts International by 19.3% in the first quarter. Canyon Capital Advisors LLC now owns 17,818,760 shares of the company’s stock valued at $488,234,000 after buying an additional 2,877,500 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of MGM Resorts International during the first quarter valued at $2,165,000. Stifel Financial Corp increased its position in shares of MGM Resorts International by 39.2% in the first quarter. Stifel Financial Corp now owns 127,554 shares of the company’s stock valued at $3,487,000 after buying an additional 35,898 shares during the last quarter. GMT Capital Corp increased its position in shares of MGM Resorts International by 89.4% in the first quarter. GMT Capital Corp now owns 3,490,000 shares of the company’s stock valued at $95,626,000 after buying an additional 1,647,200 shares during the last quarter. Finally, Highbridge Capital Management LLC increased its position in shares of MGM Resorts International by 92.4% in the first quarter. Highbridge Capital Management LLC now owns 36,357 shares of the company’s stock valued at $996,000 after buying an additional 17,457 shares during the last quarter. Institutional investors and hedge funds own 74.10% of the company’s stock.

MGM Resorts International (NYSE MGM) opened at 31.30 on Thursday. The stock’s 50 day moving average price is $32.08 and its 200-day moving average price is $29.99. The stock has a market capitalization of $18.00 billion, a PE ratio of 18.53 and a beta of 1.48. MGM Resorts International has a 12-month low of $23.38 and a 12-month high of $34.53.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.03. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.67 billion. MGM Resorts International had a return on equity of 7.97% and a net margin of 9.26%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 earnings per share. Analysts expect that MGM Resorts International will post $1.24 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, September 11th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.44 annualized dividend and a yield of 1.41%. MGM Resorts International’s dividend payout ratio is presently 26.04%.

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Several research analysts have recently weighed in on MGM shares. TheStreet raised MGM Resorts International from a “c+” rating to a “b” rating in a research note on Friday, April 28th. BidaskClub downgraded MGM Resorts International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Instinet reaffirmed a “buy” rating on shares of MGM Resorts International in a research note on Monday, July 17th. Zacks Investment Research downgraded MGM Resorts International from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. Finally, Stifel Nicolaus upped their target price on MGM Resorts International from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $34.81.

In other news, EVP John Mcmanus sold 10,000 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $31.28, for a total value of $312,800.00. Following the completion of the sale, the executive vice president now owns 46,917 shares of the company’s stock, valued at $1,467,563.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Alexis Herman sold 3,745 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $32.51, for a total value of $121,749.95. Following the completion of the sale, the director now directly owns 8,285 shares of the company’s stock, valued at approximately $269,345.35. The disclosure for this sale can be found here. Insiders have sold 141,329 shares of company stock valued at $4,546,246 over the last 90 days. 12.20% of the stock is currently owned by insiders.

MGM Resorts International Company Profile

MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.

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

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