Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Boosts Stake in MGM Resorts International (MGM)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its stake in shares of MGM Resorts International (NYSE:MGM) by 18.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 218,300 shares of the company’s stock after buying an additional 34,500 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in MGM Resorts International were worth $7,289,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Asset Management One Co. Ltd. raised its position in shares of MGM Resorts International by 5.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 712,424 shares of the company’s stock valued at $23,209,000 after buying an additional 34,625 shares in the last quarter. Cadence Capital Management LLC purchased a new stake in shares of MGM Resorts International during the 3rd quarter valued at $351,000. Nordea Investment Management AB raised its position in shares of MGM Resorts International by 47.6% during the 3rd quarter. Nordea Investment Management AB now owns 22,871 shares of the company’s stock valued at $745,000 after buying an additional 7,378 shares in the last quarter. American Assets Capital Advisers LLC raised its position in shares of MGM Resorts International by 64.6% during the 4th quarter. American Assets Capital Advisers LLC now owns 570,704 shares of the company’s stock valued at $19,055,000 after buying an additional 224,000 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of MGM Resorts International by 4.7% during the 4th quarter. Teacher Retirement System of Texas now owns 406,481 shares of the company’s stock valued at $13,572,000 after buying an additional 18,261 shares in the last quarter. Hedge funds and other institutional investors own 82.50% of the company’s stock.

How to Become a New Pot Stock Millionaire

Several analysts have recently weighed in on the stock. Jefferies Group assumed coverage on shares of MGM Resorts International in a research report on Thursday, January 18th. They set a “buy” rating and a $43.00 price objective on the stock. Telsey Advisory Group assumed coverage on shares of MGM Resorts International in a report on Wednesday, March 14th. They set a “market perform” rating and a $39.00 target price on the stock. Zacks Investment Research raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Monday, February 5th. Barclays increased their target price on shares of MGM Resorts International from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, Bank of America increased their target price on shares of MGM Resorts International from $38.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $37.94.

Shares of MGM stock opened at $33.26 on Friday. The stock has a market cap of $19,556.67, a price-to-earnings ratio of 33.85, a price-to-earnings-growth ratio of 1.64 and a beta of 1.45. MGM Resorts International has a twelve month low of $25.21 and a twelve month high of $38.41. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.77 and a quick ratio of 0.73.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.51 billion. MGM Resorts International had a net margin of 17.92% and a return on equity of 5.78%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. equities analysts expect that MGM Resorts International will post 1.39 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Friday, March 9th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Thursday, March 8th. This is a positive change from MGM Resorts International’s previous quarterly dividend of $0.11. MGM Resorts International’s dividend payout ratio (DPR) is 14.12%.

In other news, Director William Warwick Grounds purchased 1,000 shares of the business’s stock in a transaction on Wednesday, March 14th. The shares were acquired at an average price of $35.50 per share, with a total value of $35,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alexis Herman sold 4,350 shares of MGM Resorts International stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $36.63, for a total transaction of $159,340.50. Following the sale, the director now directly owns 3,935 shares in the company, valued at approximately $144,139.05. The disclosure for this sale can be found here. In the last three months, insiders acquired 46,000 shares of company stock worth $49,000 and sold 142,646 shares worth $5,104,710. 12.20% of the stock is owned by company insiders.

TRADEMARK VIOLATION WARNING: “Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Boosts Stake in MGM Resorts International (MGM)” was originally published by Ticker Report and is the property of of Ticker Report. If you are reading this news story on another site, it was stolen and republished in violation of US and international copyright & trademark laws. The correct version of this news story can be viewed at https://www.tickerreport.com/banking-finance/3295679/her-majesty-the-queen-in-right-of-the-province-of-alberta-as-represented-by-alberta-investment-management-corp-boosts-stake-in-mgm-resorts-international-mgm.html.

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.

Institutional Ownership by Quarter 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.

Latest News

Cantor Fitzgerald Raises Intuitive Surgical  Price Target to $510.00
Cantor Fitzgerald Raises Intuitive Surgical Price Target to $510.00
JPMorgan Chase Boosts UnitedHealth Group  Price Target to $266.00
JPMorgan Chase Boosts UnitedHealth Group Price Target to $266.00
Mizuho Reaffirms “Buy” Rating for QUALCOMM
Mizuho Reaffirms “Buy” Rating for QUALCOMM
Noah  and PJT Partners  Critical Review
Noah and PJT Partners Critical Review
Head-To-Head Analysis: The Meet Group  & Quotient Technology
Head-To-Head Analysis: The Meet Group & Quotient Technology
Mersana Therapeutics  Stock Rating Upgraded by Zacks Investment Research
Mersana Therapeutics Stock Rating Upgraded by Zacks Investment Research


© 2006-2018 Ticker Report. Google+.