Harbor Investment Advisory LLC Acquires 700 Shares of MGM Resorts International (NYSE:MGM)


Harbor Investment Advisory LLC grew its holdings in MGM Resorts International (NYSE:MGM – Get Rating ) by 72.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,672 shares of the company’s stock after acquiring an additional 700 shares during the period. Harbor Investment Advisory LLC’s holdings in MGM Resorts International were worth $70,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in MGM. State Street Corp boosted its stake in MGM Resorts International by 3.3% in the fourth quarter. State Street Corp now owns 16,047,151 shares of the company’s stock valued at $720,196,000 after buying an additional 517,377 shares in the last quarter. Southeastern Asset Management Inc. TN raised its stake in MGM Resorts International by 5.8% during the fourth quarter. Southeastern Asset Management Inc. TN now owns 5,846,629 shares of the company’s stock valued at $262,397,000 after purchasing an additional 321,175 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in MGM Resorts International by 71.2% in the fourth quarter. Allianz Asset Management GmbH now owns 4,272,794 shares of the company’s stock valued at $191,762,000 after buying an additional 1,777,519 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in MGM Resorts International by 29.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,459,535 shares of the company’s stock valued at $155,264,000 after buying an additional 785,546 shares in the last quarter. Finally, Senvest Management LLC boosted its stake in MGM Resorts International by 4.5% in the fourth quarter. Senvest Management LLC now owns 3,143,207 shares of the company’s stock valued at $141,067,000 after buying an additional 134,377 shares in the last quarter. 85.76% of the shares are owned by institutional investors.

Shares of NYSE MGM opened at $30.00 on Monday. The company has a debt-to-equity ratio of 1.06, a quick earnings ratio of 1.23 and a current ratio of 1.25. The business’s 50-day moving average is $34.01 and its 200-day moving average is $39.75. MGM Resorts International has a fifty-two week low of $26.41 and a fifty-two week high of $51.17. The company has a market cap of $12.78 billion, a price-to-earnings ratio of 9.74 and a beta of 2.17.

MGM Resorts International (NYSE:MGM – Get Rating ) last posted its quarterly earnings data on Monday, May 2nd. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.10. The company had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $2.75 billion. MGM Resorts International had a return on equity of 0.81% and a net margin of 14.40%. During the same period last year, the business reported ($0.68) EPS. sell-side analysts forecast that MGM Resorts International will post 0.94 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Friday, June 10th were given a dividend of $0.0025 per share. The ex-dividend date of this dividend was Thursday, June 9th. This represents a dividend of $0.01 per year and a yield of 0.03%. MGM Resorts International’s dividend payout ratio is currently 0.32%.

In related news, director Paul J. Salem acquired 3,500 shares of MGM Resorts International stock in a transaction on Wednesday, May 25th. The shares were acquired at an average price of $31.25 per share, for a total transaction of $109,375.00. Following the purchase, the director now owns 1,520,500 shares of the company’s stock, valued at approximately $47,515,625. The acquisition was disclosed in a legal filing with the SEC, which is available via this hyperlink. Also, CEO William Hornbuckle sold 10,000 shares of MGM Resorts International stock in a transaction dated Wednesday, April 20th. The shares were 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 owns 132,603 ​​shares of the company’s stock, valued at approximately $5,701,929. Disclosure of this sale can be found here. Insiders own 2.13% of the company’s stock.

A number of equities analysts recently commented on the company. StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Friday, June 10th. Deutsche Bank Aktiengesellschaft reduced their target price on MGM Resorts International from $52.00 to $48.00 in a research note on Friday, May 20th. UBS Group reduced their price objective on MGM Resorts International to $40.00 in a research report on Thursday, June 9th. Morgan Stanley decreased their price objective on MGM Resorts International from $56.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, April 25th. Finally, Susquehanna Bancshares raised MGM Resorts International from a “negative” rating to a “neutral” rating and boosted their price objective for the company from $36.00 to $45.00 in a research report on Friday, March 18th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. MGM Resorts International has an average rating of “Moderate Buy” and a consensus target price of $53.05, according to MarketBeat .

About MGM Resorts International (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 in 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.

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



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