MGM Resorts International (NYSE:MGM) Shares Bought by Private Trust Co. NA

Private Trust Co. NA raised its stake in MGM Resorts International (NYSE:MGM) by 28.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,225 shares of the company’s stock after purchasing an additional 2,274 shares during the period. Private Trust Co. NA’s holdings in MGM Resorts International were worth $283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of MGM. Patriot Financial Group Insurance Agency LLC raised its position in shares of MGM Resorts International by 3,000.0% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 930 shares of the company’s stock worth $27,000 after acquiring an additional 900 shares in the last quarter. Thor Advisors LLC acquired a new stake in shares of MGM Resorts International during the 1st quarter worth about $35,000. Trust Co. of Vermont acquired a new stake in shares of MGM Resorts International during the 2nd quarter worth about $43,000. Valeo Financial Advisors LLC raised its position in shares of MGM Resorts International by 407.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,523 shares of the company’s stock worth $44,000 after acquiring an additional 1,223 shares in the last quarter. Finally, Resources Investment Advisors LLC. raised its position in shares of MGM Resorts International by 256.4% during the 2nd quarter. Resources Investment Advisors LLC. now owns 2,780 shares of the company’s stock worth $79,000 after acquiring an additional 2,000 shares in the last quarter. 82.58% of the stock is currently owned by institutional investors.

In other MGM Resorts International news, Director Mary Christine Gay sold 5,200 shares of MGM Resorts International stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $29.20, for a total transaction of $151,840.00. Following the transaction, the director now owns 17,716 shares of the company’s stock, valued at $517,307.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Rose Mckinney-James sold 2,670 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $28.15, for a total value of $75,160.50. Following the transaction, the director now directly owns 4,616 shares in the company, valued at approximately $129,940.40. The disclosure for this sale can be found here. Insiders own 3.47% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Nomura raised their target price on MGM Resorts International from $37.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley cut their target price on MGM Resorts International from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. Deutsche Bank set a $34.00 target price on MGM Resorts International and gave the stock a “hold” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. cut their target price on 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. Finally, UBS Group raised their target price on MGM Resorts International from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. MGM Resorts International has a consensus rating of “Hold” and an average target price of $31.09.

MGM remained flat at $$27.26 during trading on Friday. The company’s stock had a trading volume of 1,200,516 shares, compared to its average volume of 6,245,458. The company has a market cap of $14.43 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 3.46 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’s fifty day simple moving average is $28.27 and its two-hundred day simple moving average is $27.59. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 1.39.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. MGM Resorts International had a return on equity of 3.77% and a net margin of 1.56%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $0.26 EPS. On average, analysts forecast that MGM Resorts International will post 0.85 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, September 10th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.91%. The ex-dividend date was Monday, September 9th. MGM Resorts International’s dividend payout ratio (DPR) is 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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