California Public Employees Retirement System grew its holdings in shares of MGM Resorts International (NYSE:MGM) by 0.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,120,202 shares of the company’s stock after acquiring an additional 2,286 shares during the period. California Public Employees Retirement System’s holdings in MGM Resorts International were worth $32,519,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MGM. Bank of New York Mellon Corp grew its stake in shares of MGM Resorts International by 143.3% during the second quarter. Bank of New York Mellon Corp now owns 7,603,754 shares of the company’s stock valued at $220,738,000 after acquiring an additional 4,478,383 shares in the last quarter. BlackRock Inc. grew its stake in shares of MGM Resorts International by 8.8% during the second quarter. BlackRock Inc. now owns 38,976,350 shares of the company’s stock valued at $1,131,484,000 after acquiring an additional 3,163,587 shares in the last quarter. Morgan Stanley grew its stake in shares of MGM Resorts International by 71.5% during the second quarter. Morgan Stanley now owns 6,199,539 shares of the company’s stock valued at $179,973,000 after acquiring an additional 2,584,993 shares in the last quarter. Epoch Investment Partners Inc. grew its stake in shares of MGM Resorts International by 6,435.4% during the second quarter. Epoch Investment Partners Inc. now owns 1,910,304 shares of the company’s stock valued at $55,456,000 after acquiring an additional 1,881,074 shares in the last quarter. Finally, Iridian Asset Management LLC CT grew its stake in shares of MGM Resorts International by 29.8% during the second quarter. Iridian Asset Management LLC CT now owns 6,236,847 shares of the company’s stock valued at $181,056,000 after acquiring an additional 1,432,566 shares in the last quarter. Institutional investors own 79.75% of the company’s stock.

Shares of MGM stock opened at $27.87 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.64 and a debt-to-equity ratio of 1.25. MGM Resorts International has a one year low of $26.31 and a one year high of $38.41. The stock has a market cap of $15.32 billion, a PE ratio of 27.32, a P/E/G ratio of 3.66 and a beta of 1.45.

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

The business also recently declared a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Monday, September 10th were given a dividend of $0.12 per share. The ex-dividend date was Friday, September 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.72%. MGM Resorts International’s payout ratio is 47.06%.

In other news, CFO Daniel D’arrigo sold 29,377 shares of the stock in a transaction dated Friday, August 31st. The shares were sold at an average price of $29.23, for a total transaction of $858,689.71. Following the transaction, the chief financial officer now owns 260,676 shares of the company’s stock, valued at $7,619,559.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alexis Herman sold 3,500 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $28.85, for a total transaction of $100,975.00. The disclosure for this sale can be found here. Insiders have sold 34,627 shares of company stock worth $1,009,155 in the last ninety days. Corporate insiders own 0.43% of the company’s stock.

Several analysts have recently weighed in on MGM shares. Zacks Investment Research upgraded MGM Resorts International from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Morgan Stanley lowered their target price on MGM Resorts International from $38.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, August 3rd. Credit Suisse Group started coverage on MGM Resorts International in a research note on Tuesday, August 14th. They set a “neutral” rating and a $31.00 target price for the company. Jefferies Financial Group restated a “buy” rating on shares of MGM Resorts International in a research note on Wednesday, August 1st. Finally, Stifel Nicolaus restated a “hold” rating and set a $33.00 target price (down from $37.00) on shares of MGM Resorts International in a research note on Friday, August 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $37.14.

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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