Calamos Advisors LLC trimmed its position in MGM Resorts International (NYSE:MGM) by 33.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,730,154 shares of the company’s stock after selling 859,966 shares during the quarter. Calamos Advisors LLC owned 0.32% of MGM Resorts International worth $44,396,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of MGM Resorts International by 1.3% during the third quarter. Bank of New York Mellon Corp now owns 7,706,111 shares of the company’s stock worth $215,078,000 after purchasing an additional 102,357 shares during the period. Geode Capital Management LLC raised its position in MGM Resorts International by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 6,387,824 shares of the company’s stock valued at $154,688,000 after buying an additional 366,980 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of MGM Resorts International by 380.3% during the 4th quarter. Bank of America Corp DE now owns 5,827,720 shares of the company’s stock worth $141,381,000 after acquiring an additional 4,614,420 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of MGM Resorts International during the 4th quarter worth approximately $122,017,000. Finally, Norges Bank bought a new position in shares of MGM Resorts International during the 4th quarter worth approximately $108,871,000. Institutional investors own 80.79% of the company’s stock.
Shares of NYSE MGM traded up $0.32 during trading on Friday, reaching $25.99. The company had a trading volume of 7,548,356 shares, compared to its average volume of 7,670,111. MGM Resorts International has a 12 month low of $21.61 and a 12 month high of $33.68. The firm has a market capitalization of $13.95 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 3.85 and a beta of 1.37. The company has a current ratio of 0.78, a quick ratio of 0.82 and a debt-to-equity ratio of 1.31.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 10th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, June 7th. MGM Resorts International’s payout ratio is 52.53%.
In other news, Director Mary Christine Gay bought 3,700 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average cost of $27.27 per share, with a total value of $100,899.00. Following the completion of the transaction, the director now directly owns 18,036 shares of the company’s stock, valued at approximately $491,841.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.47% of the company’s stock.
Several analysts recently issued reports on the company. Deutsche Bank reiterated a “hold” rating and set a $32.00 target price on shares of MGM Resorts International in a research report on Monday, March 25th. Zacks Investment Research downgraded MGM Resorts International from a “hold” rating to a “strong sell” rating in a research report on Monday, February 18th. Credit Suisse Group reissued a “neutral” rating and set a $30.00 price target on shares of MGM Resorts International in a report on Wednesday, March 20th. Finally, Morgan Stanley upped their target price on MGM Resorts International from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $33.50.
MGM Resorts International 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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