CAPROCK Group Inc. purchased a new stake in shares of MGM Resorts International (NYSE:MGM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,948 shares of the company’s stock, valued at approximately $249,000.

Other hedge funds also recently added to or reduced their stakes in the company. 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 valued at $125,000 after buying an additional 31 shares during the last quarter. Toronto Dominion Bank increased its position in shares of MGM Resorts International by 28.0% in the first quarter. Toronto Dominion Bank now owns 5,020 shares of the company’s stock valued at $138,000 after buying an additional 1,099 shares during the period. MUFG Americas Holdings Corp acquired a new position in shares of MGM Resorts International during the first quarter valued at approximately $198,000. Global X Management Co. LLC increased its position in shares of MGM Resorts International by 30.4% in the first quarter. Global X Management Co. LLC now owns 7,403 shares of the company’s stock valued at $203,000 after buying an additional 1,724 shares during the period. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of MGM Resorts International by 7.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 8,094 shares of the company’s stock valued at $222,000 after buying an additional 560 shares during the period. Institutional investors own 73.49% of the company’s stock.

Shares of MGM Resorts International (MGM) opened at 31.79 on Monday. MGM Resorts International has a 52 week low of $23.38 and a 52 week high of $34.53. The stock has a market capitalization of $18.28 billion, a PE ratio of 18.81 and a beta of 1.48. The company’s 50 day moving average price is $32.62 and its 200-day moving average price is $29.81.

MGM Resorts International (NYSE:MGM) last released its 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. MGM Resorts International had a return on equity of 7.97% and a net margin of 9.26%. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the firm posted $0.29 EPS. MGM Resorts International’s revenue for the quarter was up 16.4% on a year-over-year basis. Equities research analysts predict that MGM Resorts International will post $1.24 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Monday, September 11th will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, September 8th. This represents a $0.44 annualized dividend and a yield of 1.38%. MGM Resorts International’s payout ratio is 26.04%.

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Several equities analysts have commented on the company. UBS AG downgraded MGM Resorts International from a “buy” rating to a “neutral” rating and upped their price objective for the company from $33.00 to $36.00 in a research report on Tuesday, August 1st. BidaskClub downgraded MGM Resorts International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $36.00 price objective (up previously from $34.00) on shares of MGM Resorts International in a research report on Sunday, July 30th. Zacks Investment Research downgraded MGM Resorts International from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, Telsey Advisory Group upped their price objective on MGM Resorts International from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $34.59.

In related news, CEO James Murren sold 57,269 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $33.05, for a total transaction of $1,892,740.45. Following the completion of the transaction, the chief executive officer now directly owns 1,231,611 shares of the company’s stock, valued at approximately $40,704,743.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Mcmanus sold 10,000 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $31.28, for a total value of $312,800.00. Following the transaction, the executive vice president now directly owns 46,917 shares of the company’s stock, valued at $1,467,563.76. The disclosure for this sale can be found here. Insiders have sold a total of 102,501 shares of company stock valued at $3,321,878 over the last three months. 12.20% of the stock is currently owned by insiders.

About MGM Resorts International

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

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