Commonwealth Equity Services LLC grew its position in shares of MGM Resorts International (NYSE:MGM) by 5.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,888 shares of the company’s stock after purchasing an additional 2,559 shares during the quarter. Commonwealth Equity Services LLC’s holdings in MGM Resorts International were worth $1,419,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MGM. State of New Jersey Common Pension Fund D increased its position in shares of MGM Resorts International by 100.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 1,000,000 shares of the company’s stock valued at $29,030,000 after purchasing an additional 500,000 shares during the last quarter. Calamos Advisors LLC increased its position in shares of MGM Resorts International by 40.1% during the 2nd quarter. Calamos Advisors LLC now owns 1,526,528 shares of the company’s stock valued at $44,315,000 after purchasing an additional 436,726 shares during the last quarter. TD Asset Management Inc. increased its position in shares of MGM Resorts International by 67.3% during the 2nd quarter. TD Asset Management Inc. now owns 759,907 shares of the company’s stock valued at $22,060,000 after purchasing an additional 305,616 shares during the last quarter. State of Tennessee Treasury Department grew its position in MGM Resorts International by 224.8% during the 1st quarter. State of Tennessee Treasury Department now owns 428,165 shares of the company’s stock worth $14,994,000 after acquiring an additional 296,353 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its position in MGM Resorts International by 20.9% during the 1st quarter. Gamco Investors INC. ET AL now owns 1,574,110 shares of the company’s stock worth $55,125,000 after acquiring an additional 272,410 shares during the last quarter. Hedge funds and other institutional investors own 87.29% of the company’s stock.

Several research firms recently issued reports on MGM. Zacks Investment Research upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, April 24th. Susquehanna Bancshares upgraded MGM Resorts International from a “neutral” rating to a “positive” rating in a research report on Monday, April 23rd. UBS Group upgraded MGM Resorts International from a “neutral” rating to a “positive” rating in a research report on Monday, April 23rd. Telsey Advisory Group reduced their price target on MGM Resorts International from $39.00 to $34.00 and set a “market perform” rating on the stock in a research report on Friday, April 27th. Finally, ValuEngine lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $37.07.

Shares of MGM stock opened at $28.55 on Monday. The company has a market capitalization of $15.52 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 3.71 and a beta of 1.38. MGM Resorts International has a fifty-two week low of $26.85 and a fifty-two week high of $38.41. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.64 and a current ratio of 0.68.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $0.26 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.26. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.97 billion. MGM Resorts International had a return on equity of 5.07% and a net margin of 17.11%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.28 EPS. research analysts forecast that MGM Resorts International will post 1.16 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Monday, September 10th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, September 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.68%. MGM Resorts International’s dividend payout ratio is currently 47.06%.

MGM Resorts International declared that its board has approved a share buyback plan on Thursday, May 10th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 10.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

In other news, Director Rose Mckinney-James sold 5,624 shares of MGM Resorts International stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $31.89, for a total value of $179,349.36. Following the sale, the director now directly owns 3,870 shares in the company, valued at approximately $123,414.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mary Christine Gay sold 1,585 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $30.94, for a total value of $49,039.90. Following the completion of the sale, the director now owns 14,336 shares in the company, valued at $443,555.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,459 shares of company stock worth $378,854. Corporate insiders own 0.43% of the company’s stock.

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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