Amalgamated Bank Decreases Stock Holdings in MGM Resorts International (NYSE:MGM)

Amalgamated Bank decreased its holdings in MGM Resorts International (NYSE:MGMGet Rating) by 7.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 97,856 shares of the company’s stock after selling 7,507 shares during the quarter. Amalgamated Bank’s holdings in MGM Resorts International were worth $4,104,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Whittier Trust Co. increased its position in shares of MGM Resorts International by 2.9% during the 1st quarter. Whittier Trust Co. now owns 10,218 shares of the company’s stock valued at $428,000 after purchasing an additional 288 shares during the last quarter. Commerce Bank increased its position in shares of MGM Resorts International by 2.7% during the 4th quarter. Commerce Bank now owns 12,282 shares of the company’s stock valued at $551,000 after purchasing an additional 326 shares during the last quarter. Tyler Stone Wealth Management increased its position in shares of MGM Resorts International by 23.2% during the 1st quarter. Tyler Stone Wealth Management now owns 2,033 shares of the company’s stock valued at $85,000 after purchasing an additional 383 shares during the last quarter. Pacific Global Investment Management Co. increased its position in shares of MGM Resorts International by 0.6% during the 1st quarter. Pacific Global Investment Management Co. now owns 66,295 shares of the company’s stock valued at $2,780,000 after purchasing an additional 405 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of MGM Resorts International by 4.3% during the 1st quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 11,155 shares of the company’s stock valued at $468,000 after purchasing an additional 460 shares during the last quarter. Hedge funds and other institutional investors own 67.54% of the company’s stock.

MGM Resorts International Stock Down 5.2 %

NYSE MGM opened at $32.78 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.63 and a current ratio of 1.65. The company has a market capitalization of $12.89 billion, a P/E ratio of 4.59 and a beta of 2.11. MGM Resorts International has a one year low of $26.41 and a one year high of $51.17. The stock has a 50 day moving average price of $33.35 and a 200-day moving average price of $35.32.

MGM Resorts International (NYSE:MGMGet Rating) last posted its earnings results on Wednesday, August 3rd. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.21). The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.03 billion. MGM Resorts International had a net margin of 27.33% and a return on equity of 1.44%. As a group, equities analysts predict that MGM Resorts International will post 0.04 EPS for the current fiscal year.

MGM Resorts International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, September 9th were given a dividend of $0.0025 per share. The ex-dividend date was Thursday, September 8th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.03%. MGM Resorts International’s dividend payout ratio is currently 0.14%.

Insider Activity at MGM Resorts International

In related news, Director Janet Swartz purchased 14,230 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were bought at an average price of $35.05 per share, for a total transaction of $498,761.50. Following the acquisition, the director now owns 19,858 shares of the company’s stock, valued at approximately $696,022.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Janet Swartz purchased 14,230 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were bought at an average price of $35.05 per share, for a total transaction of $498,761.50. Following the acquisition, the director now owns 19,858 shares of the company’s stock, valued at approximately $696,022.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Corey Ian Sanders sold 10,000 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $36.00, for a total value of $360,000.00. Following the sale, the chief operating officer now owns 280,273 shares in the company, valued at approximately $10,089,828. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 590,030 shares of company stock worth $20,493,524. Company insiders own 2.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. UBS Group reduced their price target on shares of MGM Resorts International to $40.00 in a research report on Thursday, June 9th. StockNews.com downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Friday, July 15th. Argus downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Thursday, September 8th. Wells Fargo & Company boosted their price objective on MGM Resorts International from $49.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, August 4th. Finally, Credit Suisse Group cut their price objective on MGM Resorts International from $76.00 to $72.00 and set an “outperform” rating for the company in a research note on Thursday, August 4th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $52.93.

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 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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