Kentucky Retirement Systems Insurance Trust Fund bought a new position in MGM Resorts International (NYSE:MGM) in the 4th quarter, Holdings Channel reports. The institutional investor bought 9,907 shares of the company’s stock, valued at approximately $240,000.

A number of other hedge funds have also recently added to or reduced their stakes in MGM. JOYN Advisors Inc. grew its stake in MGM Resorts International by 377.0% in the 4th quarter. JOYN Advisors Inc. now owns 1,159 shares of the company’s stock worth $28,000 after acquiring an additional 916 shares during the period. Lindbrook Capital LLC purchased a new stake in MGM Resorts International in the 4th quarter worth approximately $34,000. Bessemer Group Inc. grew its stake in MGM Resorts International by 579.4% in the 4th quarter. Bessemer Group Inc. now owns 1,583 shares of the company’s stock worth $38,000 after acquiring an additional 1,350 shares during the period. Citizens Financial Group Inc RI purchased a new stake in MGM Resorts International in the 4th quarter worth approximately $41,000. Finally, Rehmann Capital Advisory Group grew its stake in MGM Resorts International by 81.5% in the 4th quarter. Rehmann Capital Advisory Group now owns 2,282 shares of the company’s stock worth $55,000 after acquiring an additional 1,025 shares during the period. 80.88% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE MGM opened at $26.59 on Tuesday. MGM Resorts International has a 52-week low of $21.61 and a 52-week high of $36.80. The firm has a market cap of $13.78 billion, a PE ratio of 26.86, a P/E/G ratio of 3.57 and a beta of 1.38. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.86 and a quick ratio of 0.82.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, February 13th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. MGM Resorts International had a net margin of 3.96% and a return on equity of 5.23%. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $3.01 billion. MGM Resorts International’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, sell-side analysts expect that MGM Resorts International will post 1.15 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 8th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.96%. This is a boost from MGM Resorts International’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Thursday, March 7th. MGM Resorts International’s dividend payout ratio is 52.53%.

In other MGM Resorts International news, Director Mary Christine Gay purchased 3,700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average cost of $27.27 per share, with a total value of $100,899.00. Following the transaction, the director now owns 18,036 shares in the company, valued at $491,841.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.47% of the stock is currently owned by corporate insiders.

MGM has been the subject of several research reports. Zacks Investment Research raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Monday, January 21st. Morgan Stanley reissued a “buy” rating on shares of MGM Resorts International in a research note on Monday, December 3rd. Credit Suisse Group reissued a “neutral” rating and set a $30.00 price objective on shares of MGM Resorts International in a research note on Wednesday, March 20th. Finally, Deutsche Bank reissued a “hold” rating and set a $33.00 price objective on shares of MGM Resorts International in a research note on Monday, January 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. MGM Resorts International has a consensus rating of “Hold” and a consensus price target of $33.50.

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About MGM Resorts International

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

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