Athos Capital Ltd Takes Position in MGM Resorts International (MGM)
Athos Capital Ltd bought a new stake in MGM Resorts International (NYSE:MGM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 15,900 shares of the company’s stock, valued at approximately $498,000. MGM Resorts International comprises about 0.3% of Athos Capital Ltd’s investment portfolio, making the stock its 28th largest position.
A number of other large investors have also made changes to their positions in the company. Highbridge Capital Management LLC acquired a new stake in shares of MGM Resorts International during the fourth quarter valued at about $545,000. Chevy Chase Trust Holdings Inc. boosted its stake 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. National Pension Service boosted its stake in shares of MGM Resorts International by 3.8% in the first quarter. National Pension Service now owns 451,774 shares of the company’s stock valued at $12,347,000 after buying an additional 16,649 shares during the period. Private Capital Advisors Inc. acquired a new stake in shares of MGM Resorts International during the first quarter valued at about $724,000. Finally, CrestPoint Capital Management LLC boosted its stake in shares of MGM Resorts International by 3.4% in the first quarter. CrestPoint Capital Management LLC now owns 18,300 shares of the company’s stock valued at $501,000 after buying an additional 600 shares during the period. 73.49% of the stock is currently owned by institutional investors.
Shares of MGM Resorts International (NYSE MGM) opened at 31.49 on Thursday. The stock has a market capitalization of $18.11 billion, a price-to-earnings ratio of 18.63 and a beta of 1.48. MGM Resorts International has a one year low of $23.38 and a one year high of $34.53. The company has a 50-day moving average of $32.45 and a 200 day moving average of $29.92.
MGM Resorts International (NYSE:MGM) last announced its earnings results on Thursday, July 27th. The company reported $0.31 EPS for the quarter, beating the 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 business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the business posted $0.29 EPS. The company’s revenue was up 16.4% on a year-over-year basis. Equities research analysts forecast that MGM Resorts International will post $1.24 earnings per share for the current fiscal year.
The firm 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 dividend of $0.11 per share. The ex-dividend date is Friday, September 8th. This represents a $0.44 dividend on an annualized basis and a yield of 1.40%. MGM Resorts International’s dividend payout ratio (DPR) is presently 26.04%.
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MGM has been the topic of several recent research reports. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $31.00 target price on shares of MGM Resorts International in a research note on Thursday, April 20th. Aegis reaffirmed a “buy” rating on shares of MGM Resorts International in a research note on Sunday, April 23rd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $36.00 target price (up previously from $32.00) on shares of MGM Resorts International in a research note on Thursday, April 27th. Stifel Nicolaus lifted their target price on shares of MGM Resorts International from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Finally, Nomura reaffirmed a “buy” rating and set a $35.00 target price on shares of MGM Resorts International in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have issued a buy rating to the company’s stock. MGM Resorts International has a consensus rating of “Buy” and an average target price of $34.59.
In other MGM Resorts International news, Director Mary Christine Gay sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $31.88, for a total transaction of $95,640.00. Following the completion of the sale, the director now owns 11,208 shares in the company, valued at approximately $357,311.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP John Mcmanus sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $31.28, for a total value of $312,800.00. Following the sale, the executive vice president now owns 46,917 shares of the company’s stock, valued at approximately $1,467,563.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,501 shares of company stock valued at $3,417,518. 12.20% of the stock is 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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