Brown Advisory Inc. Has $635,000 Position in MGM Resorts International (MGM)

Brown Advisory Inc. raised its stake in MGM Resorts International (NYSE:MGM) by 13.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,486 shares of the company’s stock after buying an additional 2,374 shares during the period. Brown Advisory Inc.’s holdings in MGM Resorts International were worth $635,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MGM. Vanguard Group Inc. grew its position in shares of MGM Resorts International by 3.4% in the second quarter. Vanguard Group Inc. now owns 41,200,270 shares of the company’s stock valued at $1,289,156,000 after purchasing an additional 1,354,902 shares during the last quarter. Capital Research Global Investors grew its position in shares of MGM Resorts International by 1.9% in the second quarter. Capital Research Global Investors now owns 32,282,000 shares of the company’s stock valued at $1,010,104,000 after purchasing an additional 600,000 shares during the last quarter. Canyon Capital Advisors LLC grew its position in shares of MGM Resorts International by 8.9% in the second quarter. Canyon Capital Advisors LLC now owns 19,402,345 shares of the company’s stock valued at $607,099,000 after purchasing an additional 1,583,585 shares during the last quarter. State Street Corp grew its position in shares of MGM Resorts International by 1.0% in the second quarter. State Street Corp now owns 8,934,495 shares of the company’s stock valued at $279,564,000 after purchasing an additional 92,329 shares during the last quarter. Finally, PointState Capital LP acquired a new stake in shares of MGM Resorts International in the second quarter valued at approximately $239,347,000. 83.01% of the stock is owned by institutional investors.

In related news, insider Phyllis James sold 19,149 shares of MGM Resorts International stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $33.64, for a total transaction of $644,172.36. Following the sale, the insider now owns 8,961 shares of the company’s stock, valued at approximately $301,448.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sean Charland purchased 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were purchased at an average cost of $22.50 per share, for a total transaction of $562,500.00. In the last three months, insiders sold 96,877 shares of company stock worth $3,187,002. Insiders own 12.20% of the company’s stock.

A number of analysts recently issued reports on MGM shares. Nomura decreased their target price on shares of MGM Resorts International from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, November 1st. Roth Capital started coverage on shares of MGM Resorts International in a research report on Wednesday, October 25th. They set a “buy” rating and a $38.00 target price on the stock. Morgan Stanley set a $34.00 target price on shares of MGM Resorts International and gave the stock a “buy” rating in a research report on Friday, October 13th. Instinet restated a “buy” rating and set a $40.00 target price on shares of MGM Resorts International in a research report on Tuesday, October 3rd. Finally, Bank of America restated a “buy” rating and set a $40.00 target price (up previously from $38.00) on shares of MGM Resorts International in a research report on Friday, September 8th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. MGM Resorts International currently has an average rating of “Buy” and an average target price of $36.50.

Shares of MGM Resorts International (NYSE:MGM) traded down $0.16 during mid-day trading on Monday, hitting $33.18. 8,885,100 shares of the stock were exchanged, compared to its average volume of 8,658,882. MGM Resorts International has a fifty-two week low of $25.15 and a fifty-two week high of $34.65. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.98 and a current ratio of 1.02. The stock has a market cap of $19,130.00, a P/E ratio of 29.36, a PEG ratio of 7.54 and a beta of 1.43.

MGM Resorts International announced that its board has initiated a stock buyback program on Tuesday, September 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 11th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Friday, December 8th. MGM Resorts International’s dividend payout ratio is presently 43.14%.

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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.

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

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