Amundi Pioneer Asset Management Inc. increased its holdings in shares of MGM Resorts International (NYSE:MGM) by 14.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 789,138 shares of the company’s stock after acquiring an additional 102,076 shares during the quarter. Amundi Pioneer Asset Management Inc.’s holdings in MGM Resorts International were worth $26,349,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Crossmark Global Holdings Inc. acquired a new position in MGM Resorts International in the 3rd quarter valued at $355,000. State of Wisconsin Investment Board grew its holdings in MGM Resorts International by 6.3% in the 3rd quarter. State of Wisconsin Investment Board now owns 432,146 shares of the company’s stock valued at $14,084,000 after buying an additional 25,773 shares in the last quarter. State of Tennessee Treasury Department acquired a new position in MGM Resorts International in the 3rd quarter valued at $4,590,000. Prudential Financial Inc. grew its holdings in MGM Resorts International by 1,762.5% in the 3rd quarter. Prudential Financial Inc. now owns 667,921 shares of the company’s stock valued at $21,768,000 after buying an additional 632,060 shares in the last quarter. Finally, Keybank National Association OH acquired a new position in MGM Resorts International in the 3rd quarter valued at $265,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of MGM Resorts International (NYSE:MGM) opened at $36.79 on Monday. The stock has a market capitalization of $20,830.00, a price-to-earnings ratio of 39.56, a PEG ratio of 1.76 and a beta of 1.45. MGM Resorts International has a 1-year low of $25.15 and a 1-year high of $38.41. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 1.09.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Friday, March 9th will be issued a dividend of $0.12 per share. This is a positive change from MGM Resorts International’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Thursday, March 8th. MGM Resorts International’s dividend payout ratio is 51.61%.
In other news, Director William A. Bible sold 6,260 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $34.47, for a total transaction of $215,782.20. Following the sale, the director now directly owns 27,081 shares of the company’s stock, valued at approximately $933,482.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Daniel D’arrigo sold 36,366 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $34.78, for a total value of $1,264,809.48. Following the sale, the chief financial officer now directly owns 242,799 shares in the company, valued at $8,444,549.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,162 shares of company stock worth $1,915,215. 12.20% of the stock is currently owned by insiders.
A number of research analysts have commented on the company. Barclays upped their price objective on MGM Resorts International from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Zacks Investment Research lowered MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Bank of America upped their price objective on MGM Resorts International from $38.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $37.00 price objective (up from $36.00) on shares of MGM Resorts International in a report on Wednesday, February 21st. Finally, Jefferies Group assumed coverage on MGM Resorts International in a report on Thursday, January 18th. They issued a “buy” rating and a $43.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $37.94.
MGM Resorts International Company Profile
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
Want to see what other hedge funds are holding MGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGM Resorts International (NYSE:MGM).
Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with MarketBeat.com's FREE daily email newsletter.