US Bancorp DE Has $987,000 Holdings in MGM Resorts International (NYSE:MGM)

US Bancorp DE lifted its position in shares of MGM Resorts International (NYSE:MGMGet Rating) by 1.3% in the third quarter, HoldingsChannel.com reports. The fund owned 33,189 shares of the company’s stock after buying an additional 412 shares during the period. US Bancorp DE’s holdings in MGM Resorts International were worth $987,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Heritage Wealth Management LLC bought a new position in shares of MGM Resorts International during the second quarter valued at $25,000. Ellevest Inc. increased its position in shares of MGM Resorts International by 70.4% during the second quarter. Ellevest Inc. now owns 1,072 shares of the company’s stock worth $31,000 after buying an additional 443 shares during the period. Wagner Wealth Management LLC acquired a new stake in shares of MGM Resorts International during the second quarter worth $33,000. Oliver Lagore Vanvalin Investment Group grew its holdings in MGM Resorts International by 36.6% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 1,216 shares of the company’s stock worth $35,000 after purchasing an additional 326 shares during the period. Finally, Assetmark Inc. grew its holdings in MGM Resorts International by 116.1% in the second quarter. Assetmark Inc. now owns 1,312 shares of the company’s stock worth $38,000 after purchasing an additional 705 shares during the period. Institutional investors own 82.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MGM shares. Credit Suisse Group dropped their price target on shares of MGM Resorts International from $72.00 to $67.00 and set an “outperform” rating on the stock in a research report on Thursday, November 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of MGM Resorts International from $51.00 to $49.00 in a research note on Thursday, November 3rd. Stifel Nicolaus raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and boosted their price target for the stock from $42.00 to $46.00 in a research note on Friday, January 6th. StockNews.com began coverage on shares of MGM Resorts International in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Citigroup boosted their price objective on shares of MGM Resorts International from $58.00 to $58.50 and gave the stock a “buy” rating in a report on Monday, September 26th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.10.

Insider Buying and Selling at MGM Resorts International

In other news, Director Rose Mckinney-James sold 2,870 shares of the business’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $38.04, for a total transaction of $109,174.80. Following the sale, the director now owns 2,870 shares in the company, valued at $109,174.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Corey Ian Sanders sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $36.21, for a total value of $362,100.00. Following the sale, the chief operating officer now owns 331,498 shares in the company, valued at $12,003,542.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rose Mckinney-James sold 2,870 shares of the company’s stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $38.04, for a total value of $109,174.80. Following the completion of the sale, the director now owns 2,870 shares in the company, valued at approximately $109,174.80. The disclosure for this sale can be found here. Insiders have sold 58,611 shares of company stock worth $2,186,562 over the last quarter. Insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

MGM stock opened at $38.28 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.49 and a quick ratio of 1.47. The business has a 50-day moving average price of $36.17 and a 200 day moving average price of $33.92. The company has a market capitalization of $14.70 billion, a P/E ratio of 13.11, a PEG ratio of 17.70 and a beta of 2.02. MGM Resorts International has a 1-year low of $26.41 and a 1-year high of $49.00.

MGM Resorts International (NYSE:MGMGet Rating) last posted its earnings results on Wednesday, November 2nd. The company reported ($1.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($1.61). MGM Resorts International had a net margin of 10.48% and a negative return on equity of 5.12%. The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.26 billion. As a group, equities research analysts forecast that MGM Resorts International will post 1.27 EPS for the current fiscal year.

MGM Resorts International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Friday, December 9th were paid a $0.0025 dividend. The ex-dividend date of this dividend was Thursday, December 8th. This represents a $0.01 annualized dividend and a yield of 0.03%. MGM Resorts International’s dividend payout ratio (DPR) is presently 0.34%.

MGM Resorts International Profile

(Get Rating)

MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. The firm’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China.

See Also

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:MGMGet Rating).

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.