Tdam USA Inc. Buys New Holdings in MGM Resorts International (MGM)
Tdam USA Inc. bought a new stake in shares of MGM Resorts International (NYSE:MGM) during the first quarter, Holdings Channel reports. The fund bought 203,691 shares of the company’s stock, valued at approximately $5,227,000.
Other hedge funds have also modified their holdings of the company. First Personal Financial Services bought a new position in shares of MGM Resorts International in the first quarter worth $26,000. 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 purchasing an additional 916 shares during the period. Quadrant Capital Group LLC increased its holdings in shares of MGM Resorts International by 94.3% in the first quarter. Quadrant Capital Group LLC now owns 1,259 shares of the company’s stock worth $29,000 after purchasing an additional 611 shares during the period. Lindbrook Capital LLC bought a new position in shares of MGM Resorts International in the fourth quarter worth $34,000. Finally, Bessemer Group Inc. increased its holdings in shares of MGM Resorts International by 579.4% in the fourth quarter. Bessemer Group Inc. now owns 1,583 shares of the company’s stock worth $38,000 after purchasing an additional 1,350 shares during the period. 80.66% of the stock is currently owned by institutional investors and hedge funds.
In related 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 bought at an average cost of $27.27 per share, with a total value of $100,899.00. Following the completion of the purchase, the director now directly owns 18,036 shares in the company, valued at $491,841.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul J. Salem purchased 800,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was bought at an average cost of $25.40 per share, with a total value of $20,320,000.00. Following the completion of the purchase, the director now owns 800,000 shares of the company’s stock, valued at $20,320,000. The disclosure for this purchase can be found here. 3.47% of the stock is owned by corporate insiders.
Shares of MGM Resorts International stock traded down $0.79 during trading on Monday, reaching $25.10. 165,220 shares of the stock were exchanged, compared to its average volume of 7,208,038. The company has a current ratio of 0.78, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The firm has a market cap of $13.91 billion, a P/E ratio of 25.32, a P/E/G ratio of 3.23 and a beta of 1.37. MGM Resorts International has a 1 year low of $21.61 and a 1 year high of $32.88.
MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Monday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.04). MGM Resorts International had a return on equity of 4.03% and a net margin of 2.26%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the company earned $0.38 earnings per share. MGM Resorts International’s quarterly revenue was up 12.6% on a year-over-year basis. Research analysts forecast that MGM Resorts International will post 0.97 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 10th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, June 7th. MGM Resorts International’s payout ratio is currently 52.53%.
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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 Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
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