Commonwealth Equity Services LLC Reduces Holdings in MGM Resorts International (NYSE:MGM)

Commonwealth Equity Services LLC decreased its position in MGM Resorts International (NYSE:MGM) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,698 shares of the company’s stock after selling 6,819 shares during the period. Commonwealth Equity Services LLC’s holdings in MGM Resorts International were worth $4,537,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in shares of MGM Resorts International by 7.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 56,685,971 shares of the company’s stock valued at $1,619,519,000 after buying an additional 3,806,520 shares during the period. Corvex Management LP lifted its holdings in shares of MGM Resorts International by 31.0% in the 2nd quarter. Corvex Management LP now owns 20,563,696 shares of the company’s stock worth $587,505,000 after acquiring an additional 4,870,924 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of MGM Resorts International by 5.8% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,112,250 shares of the company’s stock worth $231,767,000 after acquiring an additional 441,381 shares during the last quarter. Primecap Management Co. CA lifted its holdings in shares of MGM Resorts International by 19.8% in the 2nd quarter. Primecap Management Co. CA now owns 5,347,700 shares of the company’s stock worth $152,784,000 after acquiring an additional 883,500 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of MGM Resorts International by 3.4% in the 2nd quarter. Northern Trust Corp now owns 5,311,076 shares of the company’s stock worth $151,737,000 after acquiring an additional 172,317 shares during the last quarter. 82.35% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International stock opened at $30.82 on Friday. The firm has a market cap of $15.52 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 4.27 and a beta of 1.48. MGM Resorts International has a 52-week low of $21.61 and a 52-week high of $31.68. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 1.47. The company’s 50 day moving average is $28.14 and its two-hundred day moving average is $27.86.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.37). MGM Resorts International had a net margin of 0.11% and a return on equity of 4.10%. The firm had revenue of $3.31 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the business posted $0.24 earnings per share. MGM Resorts International’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts anticipate that MGM Resorts International will post 0.85 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Tuesday, December 10th will be issued a $0.13 dividend. The ex-dividend date is Monday, December 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.69%. MGM Resorts International’s payout ratio is 52.53%.

Several brokerages have recently commented on MGM. Susquehanna Bancshares began coverage on shares of MGM Resorts International in a report on Wednesday, July 24th. They issued a “negative” rating and a $23.00 price objective on the stock. TheStreet lowered shares of MGM Resorts International from a “b-” rating to a “c” rating in a report on Wednesday, October 30th. ValuEngine lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Morgan Stanley reduced their target price on shares of MGM Resorts International from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. Finally, UBS Group increased their target price on shares of MGM Resorts International from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $31.20.

In other news, Director Rose Mckinney-James sold 2,670 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $28.15, for a total value of $75,160.50. Following the sale, the director now directly owns 4,616 shares in the company, valued at approximately $129,940.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Meister acquired 79,000 shares of MGM Resorts International stock in a transaction dated Monday, November 4th. The stock was purchased at an average price of $29.43 per share, for a total transaction of $2,324,970.00. The disclosure for this purchase can be found here. 3.47% of the stock is currently owned by company insiders.

About MGM Resorts International

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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