Rational Advisors LLC Purchases New Position in MGM Resorts International (NYSE:MGM)

Rational Advisors LLC purchased a new stake in shares of MGM Resorts International (NYSE:MGM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 27,000 shares of the company’s stock, valued at approximately $845,000.

Other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc increased its position in shares of MGM Resorts International by 0.7% in the first quarter. IFP Advisors Inc now owns 4,558 shares of the company’s stock valued at $125,000 after buying an additional 31 shares during the period. World Asset Management Inc increased its position in shares of MGM Resorts International by 0.5% in the second quarter. World Asset Management Inc now owns 19,646 shares of the company’s stock valued at $615,000 after buying an additional 91 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of MGM Resorts International by 0.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 34,213 shares of the company’s stock valued at $937,000 after buying an additional 140 shares during the period. Pacer Advisors Inc. increased its position in shares of MGM Resorts International by 3.4% in the first quarter. Pacer Advisors Inc. now owns 9,269 shares of the company’s stock valued at $254,000 after buying an additional 302 shares during the period. Finally, Wellington Shields Capital Management LLC increased its position in shares of MGM Resorts International by 0.6% in the first quarter. Wellington Shields Capital Management LLC now owns 66,650 shares of the company’s stock valued at $1,826,000 after buying an additional 400 shares during the period. Institutional investors own 73.49% of the company’s stock.

MGM Resorts International (NYSE MGM) opened at 30.59 on Friday. MGM Resorts International has a 12 month low of $23.38 and a 12 month high of $34.53. The company has a market capitalization of $17.60 billion, a PE ratio of 18.11 and a beta of 1.48. The company has a 50-day moving average price of $32.31 and a 200 day moving average price of $29.94.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Thursday, July 27th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.67 billion. MGM Resorts International had a return on equity of 7.97% and a net margin of 9.26%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 EPS. On average, equities research analysts forecast that MGM Resorts International will post $1.24 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Monday, September 11th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, September 8th. MGM Resorts International’s payout ratio is presently 26.04%.

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Several brokerages have commented on MGM. BidaskClub upgraded MGM Resorts International from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded MGM Resorts International from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Instinet reiterated a “buy” rating and set a $35.00 price target (up previously from $34.00) on shares of MGM Resorts International in a report on Saturday, April 29th. UBS AG downgraded MGM Resorts International from a “buy” rating to a “neutral” rating and increased their price target for the company from $33.00 to $36.00 in a report on Tuesday, August 1st. Finally, CLSA reiterated an “outperform” rating on shares of MGM Resorts International in a report on Friday, April 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $34.81.

In other MGM Resorts International news, CEO James Murren sold 57,269 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $33.05, for a total value of $1,892,740.45. Following the transaction, the chief executive officer now directly owns 1,231,611 shares of the company’s stock, valued at approximately $40,704,743.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Corey Ian Sanders sold 21,441 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $31.60, for a total value of $677,535.60. Following the completion of the transaction, the chief operating officer now directly owns 210,558 shares in the company, valued at $6,653,632.80. The disclosure for this sale can be found here. Insiders have sold a total of 162,770 shares of company stock worth $5,223,782 over the last three months. 12.20% of the stock is owned by insiders.

About MGM Resorts International

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

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