LS Investment Advisors LLC Increases Position in MGM Resorts International (NYSE:MGM)

LS Investment Advisors LLC increased its holdings in shares of MGM Resorts International (NYSE:MGM) by 4.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,533 shares of the company’s stock after acquiring an additional 774 shares during the period. LS Investment Advisors LLC’s holdings in MGM Resorts International were worth $450,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Standard Life Aberdeen plc lifted its stake in MGM Resorts International by 3.1% in the 3rd quarter. Standard Life Aberdeen plc now owns 458,661 shares of the company’s stock valued at $12,808,000 after buying an additional 13,952 shares in the last quarter. LPL Financial LLC lifted its stake in MGM Resorts International by 72.1% in the 3rd quarter. LPL Financial LLC now owns 32,022 shares of the company’s stock valued at $894,000 after buying an additional 13,412 shares in the last quarter. Macquarie Group Ltd. lifted its stake in MGM Resorts International by 1,744.0% in the 3rd quarter. Macquarie Group Ltd. now owns 138,300 shares of the company’s stock valued at $3,860,000 after buying an additional 130,800 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in MGM Resorts International by 47.8% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,882,995 shares of the company’s stock valued at $52,554,000 after buying an additional 608,562 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in MGM Resorts International by 29.1% in the 3rd quarter. Nordea Investment Management AB now owns 26,682 shares of the company’s stock valued at $744,000 after buying an additional 6,012 shares in the last quarter. Hedge funds and other institutional investors own 79.57% of the company’s stock.

A number of research firms have weighed in on MGM. Deutsche Bank reissued a “hold” rating and issued a $32.00 target price on shares of MGM Resorts International in a research note on Monday, March 25th. Zacks Investment Research raised shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a research note on Friday, March 8th. Morgan Stanley raised their target price on shares of MGM Resorts International from $34.00 to $35.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $30.00 target price on shares of MGM Resorts International in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. MGM Resorts International currently has an average rating of “Hold” and a consensus price target of $33.50.

MGM Resorts International stock traded up $0.17 during trading on Friday, hitting $25.54. The company had a trading volume of 2,448,200 shares, compared to its average volume of 7,542,092. MGM Resorts International has a 1-year low of $21.61 and a 1-year high of $32.18. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.78. The company has a market capitalization of $13.85 billion, a PE ratio of 25.80, a price-to-earnings-growth ratio of 3.22 and a beta of 1.37.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Monday, April 29th. The company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.04). MGM Resorts International had a net margin of 2.26% and a return on equity of 4.03%. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the business posted $0.38 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts forecast that MGM Resorts International will post 0.97 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 10th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.52 annualized dividend and a yield of 2.04%. MGM Resorts International’s dividend payout ratio (DPR) is presently 52.53%.

In other MGM Resorts International news, Director Mary Christine Gay purchased 3,700 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average price of $27.27 per share, for a total transaction of $100,899.00. Following the completion of the purchase, the director now directly owns 18,036 shares in the company, valued at approximately $491,841.72. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul J. Salem purchased 800,000 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was acquired at an average price of $25.40 per share, with a total value of $20,320,000.00. Following the purchase, the director now owns 800,000 shares of the company’s stock, valued at $20,320,000. The disclosure for this purchase can be found here. 3.47% of the stock is currently owned by company insiders.

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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.

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

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