Skylands Capital LLC cut its position in shares of MGM Resorts International (NYSE:MGM) by 51.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 69,400 shares of the company’s stock after selling 74,000 shares during the period. Skylands Capital LLC’s holdings in MGM Resorts International were worth $1,684,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of MGM Resorts International by 143.3% during the second quarter. Bank of New York Mellon Corp now owns 7,603,754 shares of the company’s stock valued at $220,738,000 after buying an additional 4,478,383 shares during the period. Bank of Montreal Can boosted its position in shares of MGM Resorts International by 40.3% during the third quarter. Bank of Montreal Can now owns 281,233 shares of the company’s stock valued at $7,849,000 after buying an additional 80,780 shares during the period. Aperio Group LLC boosted its position in shares of MGM Resorts International by 11.7% during the third quarter. Aperio Group LLC now owns 162,188 shares of the company’s stock valued at $4,527,000 after buying an additional 17,012 shares during the period. IFM Investors Pty Ltd boosted its position in shares of MGM Resorts International by 16.6% during the third quarter. IFM Investors Pty Ltd now owns 27,972 shares of the company’s stock valued at $781,000 after buying an additional 3,979 shares during the period. Finally, Calamos Advisors LLC boosted its position in shares of MGM Resorts International by 18.9% during the third quarter. Calamos Advisors LLC now owns 1,815,800 shares of the company’s stock valued at $50,679,000 after buying an additional 289,272 shares during the period. 80.44% of the stock is owned by institutional investors.
Shares of NYSE:MGM opened at $28.21 on Tuesday. MGM Resorts International has a 1 year low of $21.61 and a 1 year high of $37.13. The company has a market cap of $14.87 billion, a price-to-earnings ratio of 28.49, a price-to-earnings-growth ratio of 3.67 and a beta of 1.48. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 1.36.
MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 13th. The company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. MGM Resorts International had a net margin of 3.96% and a return on equity of 5.16%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $3.01 billion. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. Analysts anticipate that MGM Resorts International will post 1.33 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, March 8th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Thursday, March 7th. This is an increase from MGM Resorts International’s previous quarterly dividend of $0.12. MGM Resorts International’s payout ratio is currently 48.48%.
Several brokerages have issued reports on MGM. Morgan Stanley restated a “buy” rating on shares of MGM Resorts International in a research report on Monday, December 3rd. Sanford C. Bernstein began coverage on MGM Resorts International in a research report on Thursday, November 15th. They set a “market perform” rating for the company. Zacks Investment Research lowered MGM Resorts International from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, Deutsche Bank restated a “hold” rating and set a $33.00 target price on shares of MGM Resorts International in a research report on Monday, January 28th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $33.60.
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MGM Resorts International Profile
MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
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