Xact Kapitalforvaltning AB Raises Holdings in MGM Resorts International (MGM)

Xact Kapitalforvaltning AB raised its position in MGM Resorts International (NYSE:MGM) by 15.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,768 shares of the company’s stock after buying an additional 5,631 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in MGM Resorts International were worth $1,428,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Asset Management One Co. Ltd. raised its stake in shares of MGM Resorts International by 5.1% in the third quarter. Asset Management One Co. Ltd. now owns 712,424 shares of the company’s stock valued at $23,209,000 after buying an additional 34,625 shares during the period. Cadence Capital Management LLC bought a new stake in shares of MGM Resorts International in the third quarter valued at $351,000. Nordea Investment Management AB raised its stake in shares of MGM Resorts International by 47.6% in the third quarter. Nordea Investment Management AB now owns 22,871 shares of the company’s stock valued at $745,000 after buying an additional 7,378 shares during the period. American Assets Capital Advisers LLC raised its stake in shares of MGM Resorts International by 64.6% in the fourth quarter. American Assets Capital Advisers LLC now owns 570,704 shares of the company’s stock valued at $19,055,000 after buying an additional 224,000 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of MGM Resorts International by 4.7% in the fourth quarter. Teacher Retirement System of Texas now owns 406,481 shares of the company’s stock valued at $13,572,000 after buying an additional 18,261 shares during the period. Hedge funds and other institutional investors own 82.50% of the company’s stock.

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In related news, insider Corey Ian Sanders sold 23,134 shares of the business’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $36.68, for a total transaction of $848,555.12. Following the completion of the transaction, the insider now directly owns 203,425 shares in the company, valued at $7,461,629. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director William A. Bible sold 6,260 shares of the business’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $34.47, for a total value of $215,782.20. Following the transaction, the director now owns 27,081 shares of the company’s stock, valued at $933,482.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 46,000 shares of company stock valued at $49,000 and have sold 142,646 shares valued at $5,104,710. 12.20% of the stock is owned by insiders.

NYSE:MGM opened at $35.02 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.73 and a current ratio of 0.77. MGM Resorts International has a 52-week low of $27.00 and a 52-week high of $38.41. The firm has a market cap of $19,834.17, a P/E ratio of 34.33, a P/E/G ratio of 1.66 and a beta of 1.45.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. MGM Resorts International had a return on equity of 5.78% and a net margin of 17.92%. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the company posted $0.11 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. research analysts forecast that MGM Resorts International will post 1.39 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Friday, March 9th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.37%. This is a boost from MGM Resorts International’s previous quarterly dividend of $0.11. The ex-dividend date was Thursday, March 8th. MGM Resorts International’s payout ratio is presently 47.06%.

Several analysts have issued reports on MGM shares. JPMorgan Chase restated an “overweight” rating and issued a $44.00 target price (up from $41.00) on shares of MGM Resorts International in a research note on Tuesday, January 9th. Zacks Investment Research upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Monday, February 5th. Barclays boosted their target price on MGM Resorts International from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Jefferies Group started coverage on MGM Resorts International in a research note on Thursday, January 18th. They issued a “buy” rating and a $43.00 target price on the stock. Finally, Stifel Nicolaus restated a “hold” rating and issued a $37.00 target price (up from $36.00) on shares of MGM Resorts International in a research note on Wednesday, February 21st. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $38.38.

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MGM Resorts International Profile

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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