Stifel Financial Corp Has $12.65 Million Stock Holdings in MGM Resorts International (NYSE:MGM)

Share on StockTwits

Stifel Financial Corp lifted its position in MGM Resorts International (NYSE:MGM) by 2.7% during the third quarter, HoldingsChannel.com reports. The fund owned 456,327 shares of the company’s stock after purchasing an additional 12,193 shares during the period. Stifel Financial Corp’s holdings in MGM Resorts International were worth $12,653,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MGM. Corvex Management LP raised its position in shares of MGM Resorts International by 31.0% in the 2nd quarter. Corvex Management LP now owns 20,563,696 shares of the company’s stock valued at $587,505,000 after acquiring an additional 4,870,924 shares during the period. Maverick Capital Ltd. acquired a new stake in MGM Resorts International during the 2nd quarter worth approximately $129,347,000. Price T Rowe Associates Inc. MD raised its holdings in MGM Resorts International by 7.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 56,685,971 shares of the company’s stock worth $1,619,519,000 after buying an additional 3,806,520 shares during the period. Renaissance Technologies LLC raised its holdings in MGM Resorts International by 15,340.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,516,870 shares of the company’s stock worth $71,907,000 after buying an additional 2,500,570 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in MGM Resorts International by 137.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 3,236,169 shares of the company’s stock worth $92,458,000 after buying an additional 1,874,296 shares during the period. Institutional investors and hedge funds own 81.65% of the company’s stock.

In other MGM Resorts International news, Director Keith A. Meister purchased 79,000 shares of the business’s stock in a transaction on Monday, November 4th. The stock was acquired at an average price of $29.43 per share, with a total value of $2,324,970.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rose Mckinney-James sold 2,670 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $28.15, for a total value of $75,160.50. Following the sale, the director now directly owns 4,616 shares of the company’s stock, valued at approximately $129,940.40. The disclosure for this sale can be found here. Company insiders own 3.47% of the company’s stock.

Several analysts have commented on the stock. Deutsche Bank set a $34.00 target price on shares of MGM Resorts International and gave the stock a “hold” rating in a report on Tuesday, September 17th. Nomura raised their target price on shares of MGM Resorts International from $37.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. ValuEngine downgraded shares of MGM Resorts International from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. UBS Group raised their target price on shares of MGM Resorts International from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Finally, TheStreet cut shares of MGM Resorts International from a “b-” rating to a “c” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $31.50.

NYSE:MGM opened at $31.95 on Monday. MGM Resorts International has a 1-year low of $21.61 and a 1-year high of $32.24. The company has a current ratio of 0.87, a quick ratio of 0.84 and a debt-to-equity ratio of 1.47. The firm has a fifty day simple moving average of $29.77 and a 200 day simple moving average of $28.37. The stock has a market capitalization of $16.66 billion, a PE ratio of 32.27, a P/E/G ratio of 5.26 and a beta of 1.52.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, October 30th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.37). MGM Resorts International had a net margin of 0.11% and a return on equity of 4.10%. The firm had revenue of $3.31 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the prior year, the business posted $0.24 earnings per share. MGM Resorts International’s quarterly revenue was up 9.4% compared to the same quarter last year. On average, equities analysts predict that MGM Resorts International will post 0.9 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Tuesday, December 10th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.63%. The ex-dividend date is Monday, December 9th. MGM Resorts International’s dividend payout ratio is 52.53%.

MGM Resorts International Company 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.

Read More: Return on Investment (ROI) Defined, Explained

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).

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

Abbott Laboratories  Updates Q1 2020
Pre-Market Earnings Guidance
Abbott Laboratories Updates Q1 2020 Pre-Market Earnings Guidance
Express  Issues Q4 2019
Pre-Market Earnings Guidance
Express Issues Q4 2019 Pre-Market Earnings Guidance
Applied Industrial Technologies  Releases FY20 Earnings Guidance
Applied Industrial Technologies Releases FY20 Earnings Guidance
Janney Montgomery Scott LLC Purchases 22,288 Shares of Colgate-Palmolive
Janney Montgomery Scott LLC Purchases 22,288 Shares of Colgate-Palmolive
Janney Montgomery Scott LLC Boosts Stake in Vanguard Large-Cap ETF
Janney Montgomery Scott LLC Boosts Stake in Vanguard Large-Cap ETF
Janney Montgomery Scott LLC Trims Stock Position in Emerson Electric Co.
Janney Montgomery Scott LLC Trims Stock Position in Emerson Electric Co.


© 2006-2020 Ticker Report