Diametric Capital LP Purchases 12,067 Shares of MGM Resorts International (NYSE:MGM)

Diametric Capital LP boosted its position in shares of MGM Resorts International (NYSE:MGMGet Rating) by 21.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,710 shares of the company’s stock after buying an additional 12,067 shares during the period. MGM Resorts International accounts for approximately 2.4% of Diametric Capital LP’s portfolio, making the stock its 9th biggest holding. Diametric Capital LP’s holdings in MGM Resorts International were worth $3,084,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allianz Asset Management GmbH grew its stake in shares of MGM Resorts International by 71.2% in the 4th quarter. Allianz Asset Management GmbH now owns 4,272,794 shares of the company’s stock valued at $191,762,000 after purchasing an additional 1,777,519 shares during the last quarter. Bamco Inc. NY purchased a new position in shares of MGM Resorts International in the 3rd quarter valued at approximately $42,439,000. Marshall Wace LLP grew its stake in shares of MGM Resorts International by 316.2% in the 3rd quarter. Marshall Wace LLP now owns 1,180,912 shares of the company’s stock valued at $50,955,000 after purchasing an additional 897,202 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of MGM Resorts International by 29.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,459,535 shares of the company’s stock valued at $155,264,000 after purchasing an additional 785,546 shares during the last quarter. Finally, Candlestick Capital Management LP purchased a new position in shares of MGM Resorts International in the 3rd quarter valued at approximately $32,363,000. 85.76% of the stock is currently owned by institutional investors.

MGM has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on MGM Resorts International from $53.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, February 10th. StockNews.com upgraded MGM Resorts International from a “hold” rating to a “buy” rating in a research note on Thursday, May 19th. Susquehanna Bancshares upgraded MGM Resorts International from a “negative” rating to a “neutral” rating and lifted their price target for the company from $36.00 to $45.00 in a research note on Friday, March 18th. Susquehanna upgraded MGM Resorts International from a “negative” rating to a “neutral” rating and lifted their price target for the company from $36.00 to $45.00 in a research note on Friday, March 18th. Finally, TheStreet downgraded MGM Resorts International from a “b-” rating to a “c+” rating in a research note on Tuesday, March 8th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, MGM Resorts International has a consensus rating of “Buy” and an average price target of $53.79.

In other news, CEO William Hornbuckle sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $43.00, for a total value of $430,000.00. Following the completion of the transaction, the chief executive officer now directly owns 132,603 shares of the company’s stock, valued at $5,701,929. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.13% of the company’s stock.

Shares of NYSE MGM traded up $0.98 during trading on Wednesday, reaching $32.09. The company had a trading volume of 6,584,004 shares, compared to its average volume of 5,542,606. MGM Resorts International has a twelve month low of $30.70 and a twelve month high of $51.17. The stock has a market capitalization of $13.67 billion, a PE ratio of 10.42 and a beta of 2.18. The stock has a 50-day moving average price of $39.52 and a two-hundred day moving average price of $41.98. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.06.

MGM Resorts International (NYSE:MGMGet Rating) last released its quarterly earnings results on Monday, May 2nd. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.10. MGM Resorts International had a return on equity of 0.81% and a net margin of 14.40%. During the same period in the previous year, the business earned ($0.68) earnings per share. On average, sell-side analysts predict that MGM Resorts International will post 0.76 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Friday, June 10th will be issued a $0.0025 dividend. The ex-dividend date is Thursday, June 9th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.03%. MGM Resorts International’s dividend payout ratio (DPR) is 0.32%.

MGM Resorts International Company Profile (Get Rating)

MGM Resorts International, through its subsidiaries, owns and operates 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.

See Also

Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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