Virtu KCG Holdings LLC lifted its position in shares of MGM Resorts International (NYSE:MGM) by 217.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,416 shares of the company’s stock after purchasing an additional 71,510 shares during the quarter. Virtu KCG Holdings LLC’s holdings in MGM Resorts International were worth $3,267,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacad Investment Ltd. bought a new stake in shares of MGM Resorts International during the second quarter valued at approximately $169,000. Global X Management Co. LLC boosted its position in shares of MGM Resorts International by 30.4% during the first quarter. Global X Management Co. LLC now owns 7,403 shares of the company’s stock valued at $203,000 after purchasing an additional 1,724 shares in the last quarter. Cigna Investments Inc. New bought a new stake in shares of MGM Resorts International during the second quarter valued at approximately $206,000. IPG Investment Advisors LLC bought a new stake in shares of MGM Resorts International during the second quarter valued at approximately $219,000. Finally, Central Bank & Trust Co. bought a new stake in shares of MGM Resorts International during the second quarter valued at approximately $222,000. Institutional investors own 75.17% of the company’s stock.

In other news, CEO James Murren sold 294,150 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $34.08, for a total value of $10,024,632.00. Following the completion of the sale, the chief executive officer now owns 71,442 shares of the company’s stock, valued at approximately $2,434,743.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Baldwin sold 49,179 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $33.13, for a total value of $1,629,300.27. Following the completion of the sale, the insider now directly owns 145,105 shares of the company’s stock, valued at approximately $4,807,328.65. The disclosure for this sale can be found here. Insiders sold a total of 819,831 shares of company stock valued at $27,686,927 in the last three months. Insiders own 12.20% of the company’s stock.

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Several equities research analysts recently weighed in on the company. BidaskClub upgraded MGM Resorts International from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research lowered MGM Resorts International from a “hold” rating to a “sell” rating in a research report on Wednesday, June 28th. Telsey Advisory Group lifted their price target 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. Bank of America Corporation restated a “buy” rating and set a $40.00 price target (up from $38.00) on shares of MGM Resorts International in a research report on Friday, September 8th. Finally, Deutsche Bank AG lowered MGM Resorts International from a “buy” rating to a “hold” rating and set a $36.00 price target on the stock. in a research report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the company. MGM Resorts International currently has a consensus rating of “Buy” and an average price target of $35.12.

MGM Resorts International (MGM) traded down 0.4920% on Monday, hitting $32.2207. The stock had a trading volume of 471,967 shares. MGM Resorts International has a 52-week low of $25.15 and a 52-week high of $34.65. The company has a 50-day moving average price of $31.97 and a 200 day moving average price of $30.74. The firm has a market cap of $18.53 billion, a PE ratio of 19.0768 and a beta of 1.48.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.67 billion. MGM Resorts International had a return on equity of 7.97% and a net margin of 9.26%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS. Equities analysts forecast that MGM Resorts International will post $1.29 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Monday, September 11th were given a $0.11 dividend. The ex-dividend date was Friday, September 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.36%. MGM Resorts International’s payout ratio is 26.04%.

MGM Resorts International announced that its board has authorized a share buyback program on Tuesday, September 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

MGM Resorts International 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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