OppenheimerFunds Inc. cut its holdings in shares of MGM Resorts International (NYSE:MGM) by 92.3% during the 4th quarter, HoldingsChannel reports. The fund owned 48,361 shares of the company’s stock after selling 576,982 shares during the quarter. OppenheimerFunds Inc.’s holdings in MGM Resorts International were worth $1,615,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the business. Concourse Capital Management LLC grew its holdings in shares of MGM Resorts International by 0.7% in the third quarter. Concourse Capital Management LLC now owns 294,434 shares of the company’s stock worth $9,596,000 after purchasing an additional 2,018 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of MGM Resorts International by 2.5% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 85,200 shares of the company’s stock worth $2,788,000 after purchasing an additional 2,111 shares during the last quarter. Norinchukin Bank The grew its holdings in shares of MGM Resorts International by 5.7% in the fourth quarter. Norinchukin Bank The now owns 40,739 shares of the company’s stock worth $1,360,000 after purchasing an additional 2,208 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of MGM Resorts International by 88.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,945 shares of the company’s stock worth $165,000 after purchasing an additional 2,318 shares during the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of MGM Resorts International by 13.9% in the third quarter. Brown Advisory Inc. now owns 19,486 shares of the company’s stock worth $635,000 after purchasing an additional 2,374 shares during the last quarter. 82.52% of the stock is currently owned by hedge funds and other institutional investors.
In other news, President William Hornbuckle sold 60,000 shares of the business’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $36.36, for a total transaction of $2,181,600.00. Following the sale, the president now owns 26,289 shares in the company, valued at approximately $955,868.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel J. Taylor sold 12,536 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $34.67, for a total transaction of $434,623.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,646 shares of company stock worth $5,104,710. Company insiders own 12.20% of the company’s stock.
Shares of MGM Resorts International (MGM) opened at $35.79 on Wednesday. The firm has a market cap of $20,825.33, a price-to-earnings ratio of 36.05, a P/E/G ratio of 1.75 and a beta of 1.45. MGM Resorts International has a fifty-two week low of $25.21 and a fifty-two week high of $38.41. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 1.09.
MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.51 billion. MGM Resorts International had a net margin of 17.92% and a return on equity of 5.78%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 earnings per share. equities analysts expect that MGM Resorts International will post 1.39 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Friday, March 9th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $0.48 annualized dividend and a yield of 1.34%. This is a boost from MGM Resorts International’s previous quarterly dividend of $0.11. MGM Resorts International’s payout ratio is 14.12%.
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MGM Resorts International 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.
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