New York State Common Retirement Fund trimmed its holdings in MGM Resorts International (NYSE:MGM) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 887,600 shares of the company’s stock after selling 26,600 shares during the quarter. New York State Common Retirement Fund owned approximately 0.18% of MGM Resorts International worth $10,474,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp grew its position in MGM Resorts International by 10.0% in the 4th quarter. Bank of New York Mellon Corp now owns 7,870,497 shares of the company’s stock valued at $261,850,000 after buying an additional 718,276 shares during the last quarter. First Republic Investment Management Inc. purchased a new position in MGM Resorts International in the 4th quarter valued at $219,000. Sigma Planning Corp purchased a new position in MGM Resorts International in the 1st quarter valued at $208,000. First Trust Advisors LP grew its position in MGM Resorts International by 1.6% in the 4th quarter. First Trust Advisors LP now owns 236,668 shares of the company’s stock valued at $7,874,000 after buying an additional 3,619 shares during the last quarter. Finally, Capital Research Global Investors grew its position in MGM Resorts International by 60.1% in the 4th quarter. Capital Research Global Investors now owns 2,406,921 shares of the company’s stock valued at $80,078,000 after buying an additional 903,604 shares during the last quarter. 84.38% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Keith A. Meister bought 500,000 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The stock was purchased at an average price of $11.80 per share, with a total value of $5,900,000.00. Following the purchase, the director now owns 19,266 shares of the company’s stock, valued at approximately $227,338.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Corey Ian Sanders bought 16,720 shares of the business’s stock in a transaction that occurred on Monday, March 30th. The stock was purchased at an average cost of $11.96 per share, with a total value of $199,971.20. Following the purchase, the chief financial officer now directly owns 411,603 shares in the company, valued at approximately $4,922,771.88. The disclosure for this purchase can be found here. Insiders purchased a total of 834,832 shares of company stock worth $10,178,535 over the last quarter. Insiders own 5.06% of the company’s stock.

A number of research firms recently weighed in on MGM. Credit Suisse Group began coverage on shares of MGM Resorts International in a research report on Thursday. They issued a “neutral” rating and a $15.00 price objective on the stock. Stifel Nicolaus lowered their price objective on shares of MGM Resorts International from $38.00 to $20.00 and set a “hold” rating on the stock in a research report on Friday, May 1st. Susquehanna Bancshares upgraded shares of MGM Resorts International from a “negative” rating to a “neutral” rating and lowered their price objective for the company from $27.00 to $10.00 in a research report on Wednesday, March 18th. Zacks Investment Research lowered shares of MGM Resorts International from a “hold” rating to a “sell” rating and set a $14.00 price objective on the stock. in a research report on Friday, May 15th. Finally, Nomura Securities restated a “buy” rating and set a $22.00 target price on shares of MGM Resorts International in a research report on Sunday, April 19th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $20.67.

MGM Resorts International stock opened at $15.90 on Friday. MGM Resorts International has a 52 week low of $5.90 and a 52 week high of $34.63. The company has a quick ratio of 2.85, a current ratio of 2.89 and a debt-to-equity ratio of 1.51. The firm’s 50-day simple moving average is $14.19 and its 200 day simple moving average is $24.96. The firm has a market capitalization of $8.14 billion, a PE ratio of 2.86 and a beta of 2.22.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Thursday, April 30th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.13). MGM Resorts International had a return on equity of 0.81% and a net margin of 23.59%. The business had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the prior year, the firm earned $0.12 earnings per share. MGM Resorts International’s quarterly revenue was down 29.1% on a year-over-year basis. On average, research analysts expect that MGM Resorts International will post -3.12 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Wednesday, June 10th will be given a $0.002 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $0.01 annualized dividend and a dividend yield of 0.05%. MGM Resorts International’s dividend payout ratio is presently 77.92%.

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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