Pacer Advisors Inc. Grows Stock Position in MGM Resorts International (NYSE:MGM)

Pacer Advisors Inc. boosted its position in MGM Resorts International (NYSE:MGM) by 11.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,458 shares of the company’s stock after buying an additional 4,768 shares during the quarter. Pacer Advisors Inc.’s holdings in MGM Resorts International were worth $1,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC lifted its stake in MGM Resorts International by 3,000.0% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 930 shares of the company’s stock worth $27,000 after purchasing an additional 900 shares during the last quarter. Rational Advisors LLC grew its holdings in shares of MGM Resorts International by 1,113.8% during the 1st quarter. Rational Advisors LLC now owns 1,323 shares of the company’s stock worth $34,000 after acquiring an additional 1,214 shares during the period. Thor Advisors LLC purchased a new stake in shares of MGM Resorts International in the 1st quarter worth approximately $35,000. Trust Co. of Vermont purchased a new stake in shares of MGM Resorts International in the 2nd quarter worth approximately $43,000. Finally, Valeo Financial Advisors LLC grew its stake in shares of MGM Resorts International by 407.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,523 shares of the company’s stock worth $44,000 after buying an additional 1,223 shares during the last quarter. Institutional investors own 82.57% of the company’s stock.

In other news, Director Keith A. Meister purchased 107,882 shares of the stock in a transaction dated Monday, June 17th. The stock was acquired at an average cost of $27.68 per share, for a total transaction of $2,986,173.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Rose Mckinney-James sold 2,670 shares of MGM Resorts International stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $28.15, for a total transaction of $75,160.50. Following the sale, the director now owns 4,616 shares of the company’s stock, valued at $129,940.40. The disclosure for this sale can be found here. Insiders bought a total of 745,402 shares of company stock valued at $20,784,509 in the last 90 days. Company insiders own 3.47% of the company’s stock.



MGM has been the topic of several research analyst reports. UBS Group increased their price target on MGM Resorts International from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, August 21st. ValuEngine lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. Deutsche Bank set a $32.00 price objective on MGM Resorts International and gave the company a “hold” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. cut their price objective on MGM Resorts International from $37.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, September 6th. Finally, Argus increased their price target on shares of MGM Resorts International to $35.00 and gave the company a “buy” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. MGM Resorts International presently has a consensus rating of “Hold” and an average price target of $30.91.

MGM Resorts International stock traded up $0.04 during mid-day trading on Friday, reaching $29.21. 130,896 shares of the company’s stock were exchanged, compared to its average volume of 5,062,576. The company has a market cap of $15.38 billion, a P/E ratio of 29.51, a P/E/G ratio of 4.24 and a beta of 1.49. MGM Resorts International has a twelve month low of $21.61 and a twelve month high of $31.68. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 1.39. The company has a fifty day moving average of $28.64 and a 200-day moving average of $27.43.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.21 billion. MGM Resorts International had a net margin of 1.56% and a return on equity of 3.77%. MGM Resorts International’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.26 earnings per share. Equities research analysts expect that MGM Resorts International will post 0.85 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 10th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Monday, September 9th. MGM Resorts International’s dividend payout ratio (DPR) is presently 52.53%.

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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