World Asset Management Inc lifted its holdings in shares of MGM Resorts International (NYSE:MGM) by 9.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,281 shares of the company’s stock after purchasing an additional 2,857 shares during the quarter. World Asset Management Inc’s holdings in MGM Resorts International were worth $828,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Private Capital Group LLC boosted its position in MGM Resorts International by 84.1% in the first quarter. Private Capital Group LLC now owns 2,091 shares of the company’s stock valued at $54,000 after buying an additional 955 shares in the last quarter. LS Investment Advisors LLC boosted its position in MGM Resorts International by 4.6% in the first quarter. LS Investment Advisors LLC now owns 17,533 shares of the company’s stock valued at $450,000 after buying an additional 774 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in MGM Resorts International by 13.1% in the first quarter. Oppenheimer & Co. Inc. now owns 54,640 shares of the company’s stock valued at $1,401,000 after buying an additional 6,326 shares in the last quarter. Osborne Partners Capital Management LLC boosted its position in MGM Resorts International by 15.7% in the first quarter. Osborne Partners Capital Management LLC now owns 100,978 shares of the company’s stock valued at $2,591,000 after buying an additional 13,676 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in MGM Resorts International in the first quarter valued at approximately $885,000. 80.79% of the stock is currently owned by institutional investors.
In other news, Director Mary Christine Gay bought 3,700 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of $27.27 per share, with a total value of $100,899.00. Following the completion of the purchase, the director now directly owns 18,036 shares of the company’s stock, valued at $491,841.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.47% of the stock is currently owned by company insiders.
MGM stock opened at $25.99 on Friday. The firm has a market cap 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. MGM Resorts International has a 52-week low of $21.61 and a 52-week high of $33.68. The company has a quick ratio of 0.82, a current ratio of 0.78 and a debt-to-equity ratio of 1.31.
MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Monday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.04). The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.12 billion. MGM Resorts International had a net margin of 2.26% and a return on equity of 4.03%. MGM Resorts International’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 EPS. On average, research analysts predict that MGM Resorts International will post 1.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, June 7th. MGM Resorts International’s payout ratio is currently 52.53%.
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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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