Shell Asset Management Co. decreased its stake in MGM Resorts International (NYSE:MGM) by 4.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,901 shares of the company’s stock after selling 1,263 shares during the period. Shell Asset Management Co.’s holdings in MGM Resorts International were worth $936,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of MGM Resorts International by 8.4% in the first quarter. Vanguard Group Inc. now owns 39,845,368 shares of the company’s stock valued at $1,091,763,000 after buying an additional 3,096,490 shares during the last quarter. Harris Associates L P increased its stake in shares of MGM Resorts International by 40.7% in the first quarter. Harris Associates L P now owns 23,573,669 shares of the company’s stock valued at $645,919,000 after buying an additional 6,814,070 shares during the last quarter. BlackRock Inc. increased its stake in shares of MGM Resorts International by 9,411.8% in the first quarter. BlackRock Inc. now owns 22,704,066 shares of the company’s stock valued at $622,092,000 after buying an additional 22,465,373 shares during the last quarter. Canyon Capital Advisors LLC increased its stake in shares of 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 during the last quarter. Finally, State Street Corp increased its stake in shares of MGM Resorts International by 5.9% in the first quarter. State Street Corp now owns 8,842,166 shares of the company’s stock valued at $242,281,000 after buying an additional 495,240 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International (NYSE MGM) opened at 31.55 on Wednesday. The company has a market cap of $18.14 billion, a PE ratio of 18.67 and a beta of 1.48. The company’s 50-day moving average price is $32.57 and its 200-day moving average price is $29.85. 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 posted its quarterly earnings data on Thursday, July 27th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.67 billion. MGM Resorts International had a net margin of 9.26% and a return on equity of 7.97%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. Equities analysts anticipate that MGM Resorts International will post $1.24 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, September 11th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.44 annualized dividend and a yield of 1.39%. MGM Resorts International’s dividend payout ratio (DPR) is 26.04%.

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Several analysts have issued reports 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 reissued 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 lifted their price target on MGM Resorts International from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have issued a buy rating to the company. MGM Resorts International has a consensus rating of “Buy” and a consensus target price of $34.59.

In other MGM Resorts International news, EVP John Mcmanus sold 10,000 shares of the stock in a transaction dated Friday, May 19th. The shares were 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 in the company, valued at approximately $1,467,563.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO James Murren sold 57,269 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $33.05, for a total transaction of $1,892,740.45. Following the completion of the sale, the chief executive officer now owns 1,231,611 shares of the company’s stock, valued at approximately $40,704,743.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 105,501 shares of company stock valued at $3,417,518. Company insiders own 12.20% of the company’s stock.

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

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