Caxton Associates LP lessened its holdings in shares of MGM Resorts International (NYSE:MGM) by 58.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,000 shares of the company’s stock after selling 184,400 shares during the quarter. Caxton Associates LP’s holdings in MGM Resorts International were worth $4,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Canyon Capital Advisors LLC boosted its stake in shares of MGM Resorts International by 19.3% during the 1st quarter. Canyon Capital Advisors LLC now owns 17,818,760 shares of the company’s stock worth $488,234,000 after acquiring an additional 2,877,500 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of MGM Resorts International during the 1st quarter worth $2,165,000. Neuberger Berman Group LLC boosted its stake in shares of MGM Resorts International by 63.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,189,143 shares of the company’s stock worth $37,208,000 after acquiring an additional 460,431 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of MGM Resorts International by 35.3% during the 2nd quarter. Advisor Group Inc. now owns 24,967 shares of the company’s stock worth $780,000 after acquiring an additional 6,509 shares during the last quarter. Finally, Highbridge Capital Management LLC boosted its stake in shares of MGM Resorts International by 92.4% during the 1st quarter. Highbridge Capital Management LLC now owns 36,357 shares of the company’s stock worth $996,000 after acquiring an additional 17,457 shares during the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

In other MGM Resorts International news, CEO James Murren sold 57,269 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $33.05, for a total transaction of $1,892,740.45. Following the transaction, the chief executive officer now directly owns 1,231,611 shares of the company’s stock, valued at $40,704,743.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Corey Ian Sanders sold 16,446 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $33.63, for a total transaction of $553,078.98. Following the transaction, the insider now directly owns 198,058 shares in the company, valued at $6,660,690.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 819,831 shares of company stock worth $27,686,927. Insiders own 12.20% of the company’s stock.

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MGM has been the topic of several analyst reports. Instinet reiterated a “buy” rating and set a $40.00 price target on shares of MGM Resorts International in a research note on Monday, July 3rd. Deutsche Bank AG reiterated a “buy” rating and set a $34.00 price target on shares of MGM Resorts International in a research note on Monday, July 3rd. BidaskClub cut shares of MGM Resorts International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 1st. UBS AG reiterated a “buy” rating on shares of MGM Resorts International in a research note on Monday, July 10th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of MGM Resorts International in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. MGM Resorts International presently has an average rating of “Buy” and an average price target of $35.80.

Shares of MGM Resorts International (NYSE MGM) traded down 0.29% during mid-day trading on Friday, reaching $30.81. 8,093,412 shares of the company’s stock were exchanged. The stock has a market capitalization of $17.72 billion, a PE ratio of 18.24 and a beta of 1.46. The company’s 50 day moving average is $32.14 and its 200 day moving average is $31.20. MGM Resorts International has a 1-year low of $25.15 and a 1-year high of $34.65.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.67 billion. MGM Resorts International had a net margin of 9.26% and a return on equity of 7.97%. The company’s revenue was up 16.4% compared to the same quarter last year. During the same period last year, the firm posted $0.29 earnings per share. Equities research analysts anticipate that MGM Resorts International will post $1.28 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Monday, September 11th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, September 8th. MGM Resorts International’s payout ratio is 26.04%.

MGM Resorts International declared that its board has initiated a stock buyback plan on Tuesday, September 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

MGM Resorts International Company 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.

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

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