Texas Permanent School Fund trimmed its holdings in MGM Resorts International (NYSE:MGM) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 97,128 shares of the company’s stock after selling 1,291 shares during the quarter. Texas Permanent School Fund’s holdings in MGM Resorts International were worth $2,692,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Comerica Bank grew its stake in MGM Resorts International by 4.3% during the 3rd quarter. Comerica Bank now owns 87,919 shares of the company’s stock valued at $2,481,000 after acquiring an additional 3,615 shares in the last quarter. California Public Employees Retirement System grew its stake in MGM Resorts International by 23.8% during the 3rd quarter. California Public Employees Retirement System now owns 1,297,036 shares of the company’s stock valued at $35,954,000 after acquiring an additional 248,936 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in MGM Resorts International by 13.9% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 128,550 shares of the company’s stock valued at $3,563,000 after acquiring an additional 15,700 shares in the last quarter. Zweig DiMenna Associates LLC purchased a new stake in MGM Resorts International during the 3rd quarter valued at about $1,386,000. Finally, State of Tennessee Treasury Department grew its stake in MGM Resorts International by 72.1% during the 3rd quarter. State of Tennessee Treasury Department now owns 202,334 shares of the company’s stock valued at $5,609,000 after acquiring an additional 84,735 shares in the last quarter. 82.35% of the stock is currently owned by institutional investors.

MGM Resorts International stock opened at $30.82 on Friday. The firm has a 50 day simple moving average of $28.14 and a 200-day simple moving average of $27.86. MGM Resorts International has a 1-year low of $21.61 and a 1-year high of $31.68. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.87 and a quick ratio of 0.84. The stock has a market cap of $15.85 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 4.36 and a beta of 1.48.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.37). MGM Resorts International had a net margin of 0.11% and a return on equity of 4.10%. The firm had revenue of $3.31 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same period last year, the company earned $0.24 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts expect that MGM Resorts International will post 0.85 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, December 10th will be paid a $0.13 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.52 annualized dividend and a dividend yield of 1.69%. MGM Resorts International’s dividend payout ratio (DPR) is 52.53%.

MGM has been the subject of several research reports. Susquehanna Bancshares initiated coverage on shares of MGM Resorts International in a research note on Wednesday, July 24th. They set a “negative” rating and a $23.00 price objective for the company. Roth Capital reaffirmed a “buy” rating on shares of MGM Resorts International in a research note on Thursday, October 31st. Morgan Stanley dropped their price objective on shares of MGM Resorts International from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 17th. UBS Group upped their price objective on shares of MGM Resorts International from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Finally, Nomura upped their price objective on shares of MGM Resorts International from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $31.20.

In related news, Director Rose Mckinney-James sold 2,670 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $28.15, for a total transaction of $75,160.50. Following the completion of the transaction, the director now owns 4,616 shares of the company’s stock, valued at approximately $129,940.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Christine Gay sold 5,200 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $29.20, for a total transaction of $151,840.00. Following the transaction, the director now directly owns 17,716 shares of the company’s stock, valued at approximately $517,307.20. The disclosure for this sale can be found here. Corporate insiders own 3.47% of the company’s stock.

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

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