Laurel Wealth Advisors Inc. lowered its position in MGM Resorts International (NYSE:MGM) by 11.6% during the first quarter, Holdings Channel reports. The firm owned 7,631 shares of the company’s stock after selling 1,000 shares during the period. Laurel Wealth Advisors Inc.’s holdings in MGM Resorts International were worth $209,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in MGM. IFP Advisors Inc raised its stake in MGM Resorts International by 0.7% in the first quarter. IFP Advisors Inc now owns 4,558 shares of the company’s stock worth $125,000 after buying an additional 31 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in MGM Resorts International by 15.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,521 shares of the company’s stock worth $129,000 after buying an additional 606 shares during the period. Toronto Dominion Bank raised its stake in MGM Resorts International by 28.0% in the first quarter. Toronto Dominion Bank now owns 5,020 shares of the company’s stock worth $138,000 after buying an additional 1,099 shares during the period. MUFG Americas Holdings Corp acquired a new stake in MGM Resorts International during the first quarter worth approximately $198,000. Finally, Pacad Investment Ltd. acquired a new stake in MGM Resorts International during the fourth quarter worth approximately $199,000. Institutional investors and hedge funds own 73.62% of the company’s stock.
MGM Resorts International (NYSE MGM) traded down 0.776% on Monday, hitting $33.895. The stock had a trading volume of 2,561,368 shares. MGM Resorts International has a 1-year low of $21.31 and a 1-year high of $34.34. The firm has a market capitalization of $19.48 billion, a price-to-earnings ratio of 15.750 and a beta of 1.44. The company’s 50 day moving average is $31.75 and its 200-day moving average is $29.08.
MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Thursday, April 27th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.63 billion. MGM Resorts International had a net margin of 12.25% and a return on equity of 7.76%. MGM Resorts International’s revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 earnings per share. On average, analysts forecast that MGM Resorts International will post $1.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Friday, June 9th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, June 7th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.29%. MGM Resorts International’s dividend payout ratio (DPR) is presently 20.37%.
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A number of equities research analysts recently commented on the company. Deutsche Bank AG increased their price target on MGM Resorts International from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Telsey Advisory Group restated an “outperform” rating and set a $36.00 price target (up from $32.00) on shares of MGM Resorts International in a research report on Thursday, April 27th. CLSA restated an “outperform” rating on shares of MGM Resorts International in a research report on Friday, April 28th. Instinet restated a “buy” rating and set a $35.00 price target (up from $34.00) on shares of MGM Resorts International in a research report on Saturday, April 29th. Finally, Aegis restated a “buy” rating and set a $35.00 price target (up from $33.00) on shares of MGM Resorts International in a research report on Saturday, April 29th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. MGM Resorts International currently has an average rating of “Buy” and an average price target of $34.20.
In other news, EVP Robert Selwood sold 10,046 shares of MGM Resorts International stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $31.56, for a total transaction of $317,051.76. Following the transaction, the executive vice president now owns 116,743 shares in the company, valued at $3,684,409.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William A. Bible sold 5,906 shares of MGM Resorts International stock in a transaction on Monday, May 1st. The stock was sold at an average price of $30.77, for a total transaction of $181,727.62. Following the transaction, the director now owns 27,081 shares in the company, valued at approximately $833,282.37. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,070 shares of company stock worth $2,591,372. 12.20% of the stock is owned by company 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.
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