MGM Resorts International (MGM) Position Reduced by Stifel Financial Corp
Stifel Financial Corp lessened its stake in MGM Resorts International (NYSE:MGM) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 186,820 shares of the company’s stock after selling 7,479 shares during the quarter. Stifel Financial Corp’s holdings in MGM Resorts International were worth $4,526,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JOYN Advisors Inc. increased its holdings in shares of MGM Resorts International by 377.0% in the fourth quarter. JOYN Advisors Inc. now owns 1,159 shares of the company’s stock worth $28,000 after acquiring an additional 916 shares in the last quarter. Lindbrook Capital LLC acquired a new position in shares of MGM Resorts International during the fourth quarter worth about $34,000. Bessemer Group Inc. boosted its position in shares of MGM Resorts International by 579.4% during the fourth quarter. Bessemer Group Inc. now owns 1,583 shares of the company’s stock worth $38,000 after buying an additional 1,350 shares during the period. Citizens Financial Group Inc RI acquired a new position in MGM Resorts International during the fourth quarter valued at approximately $41,000. Finally, Rehmann Capital Advisory Group boosted its position in MGM Resorts International by 81.5% during the fourth quarter. Rehmann Capital Advisory Group now owns 2,282 shares of the company’s stock valued at $55,000 after purchasing an additional 1,025 shares during the last quarter. Institutional investors and hedge funds own 80.88% of the company’s stock.
Several research analysts recently commented on the company. Deutsche Bank reissued a “hold” rating and set a $33.00 price target on shares of MGM Resorts International in a research report on Monday, January 28th. Zacks Investment Research raised MGM Resorts International from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Monday, January 21st. Morgan Stanley reissued a “buy” rating on shares of MGM Resorts International in a research report on Monday, December 3rd. Finally, Credit Suisse Group reissued a “neutral” rating and set a $30.00 price target on shares of MGM Resorts International in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. MGM Resorts International currently has an average rating of “Hold” and an average price target of $33.50.
MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, February 13th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.01 billion. MGM Resorts International had a return on equity of 5.23% and a net margin of 3.96%. MGM Resorts International’s revenue was up 17.6% on a year-over-year basis. As a group, equities research analysts anticipate that MGM Resorts International will post 1.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 8th were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.99%. This is a positive change from MGM Resorts International’s previous quarterly dividend of $0.12. MGM Resorts International’s dividend payout ratio (DPR) is 52.53%.
In other news, Director Mary Christine Gay bought 3,700 shares of the stock in a transaction dated Wednesday, March 6th. The shares were bought at an average price of $27.27 per share, for a total transaction of $100,899.00. Following the completion of the purchase, the director now owns 18,036 shares in the company, valued at $491,841.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.43% of the stock is currently owned by company insiders.
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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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