Nomura Holdings Inc. Raises Stock Holdings in MGM Resorts International (NYSE:MGM)

Nomura Holdings Inc. increased its position in MGM Resorts International (NYSE:MGM) by 212.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,771 shares of the company’s stock after buying an additional 25,684 shares during the quarter. Nomura Holdings Inc.’s holdings in MGM Resorts International were worth $1,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wetherby Asset Management Inc. increased its stake in shares of MGM Resorts International by 2.0% in the third quarter. Wetherby Asset Management Inc. now owns 18,880 shares of the company’s stock worth $523,000 after buying an additional 375 shares during the period. Securian Asset Management Inc increased its stake in shares of MGM Resorts International by 0.7% in the second quarter. Securian Asset Management Inc now owns 52,489 shares of the company’s stock worth $1,500,000 after buying an additional 376 shares during the period. Hartford Investment Management Co. increased its stake in shares of MGM Resorts International by 0.7% in the third quarter. Hartford Investment Management Co. now owns 55,491 shares of the company’s stock worth $1,538,000 after buying an additional 388 shares during the period. Penserra Capital Management LLC increased its stake in shares of MGM Resorts International by 8.6% in the third quarter. Penserra Capital Management LLC now owns 4,971 shares of the company’s stock worth $137,000 after buying an additional 393 shares during the period. Finally, Capital Management Associates NY increased its stake in shares of MGM Resorts International by 2.6% in the second quarter. Capital Management Associates NY now owns 15,950 shares of the company’s stock worth $456,000 after buying an additional 400 shares during the period. 81.66% of the stock is currently owned by institutional investors.

In related news, Director Keith A. Meister acquired 79,000 shares of MGM Resorts International stock in a transaction on Monday, November 4th. The shares were acquired at an average cost of $29.43 per share, with a total value of $2,324,970.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Keith A. Meister bought 295,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $32.04 per share, for a total transaction of $9,451,800.00. 3.47% of the stock is currently owned by insiders.

MGM has been the topic of several analyst reports. Deutsche Bank set a $34.00 target price on shares of MGM Resorts International and gave the stock a “hold” rating in a research note on Tuesday, September 17th. Nomura lifted their target price on shares of MGM Resorts International from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. TheStreet downgraded shares of MGM Resorts International from a “b-” rating to a “c” rating in a research note on Wednesday, October 30th. UBS Group lifted their target price on shares of MGM Resorts International from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of MGM Resorts International from $37.00 to $36.00 and set an “overweight” rating on the stock in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $31.82.

Shares of MGM Resorts International stock opened at $32.75 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 1.47. The company’s fifty day simple moving average is $30.95 and its two-hundred day simple moving average is $28.82. The company has a market cap of $16.74 billion, a P/E ratio of 33.08, a PEG ratio of 5.00 and a beta of 1.52. MGM Resorts International has a 12-month low of $21.61 and a 12-month high of $32.97.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.37). The company had revenue of $3.31 billion for the quarter, compared to analysts’ expectations of $3.33 billion. MGM Resorts International had a net margin of 0.11% and a return on equity of 4.10%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 earnings per share. Analysts predict that MGM Resorts International will post 0.96 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Monday, December 9th. MGM Resorts International’s payout ratio is currently 52.53%.

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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