Axa Has $8.03 Million Holdings in MGM Resorts International (MGM)

AXA lessened its holdings in MGM Resorts International (NYSE:MGM) by 21.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 256,611 shares of the company’s stock after selling 71,900 shares during the quarter. AXA’s holdings in MGM Resorts International were worth $8,029,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Private Advisor Group LLC increased its position in shares of MGM Resorts International by 8.7% in the second quarter. Private Advisor Group LLC now owns 17,092 shares of the company’s stock valued at $533,000 after acquiring an additional 1,375 shares during the period. Schroder Investment Management Group increased its position in shares of MGM Resorts International by 94.8% in the second quarter. Schroder Investment Management Group now owns 1,610,944 shares of the company’s stock valued at $52,984,000 after acquiring an additional 783,844 shares during the period. IFM Investors Pty Ltd purchased a new position in shares of MGM Resorts International in the second quarter valued at about $449,000. Calamos Wealth Management LLC increased its position in shares of MGM Resorts International by 0.5% in the second quarter. Calamos Wealth Management LLC now owns 52,540 shares of the company’s stock valued at $1,644,000 after acquiring an additional 257 shares during the period. Finally, Atlantic Trust Group LLC purchased a new position in shares of MGM Resorts International in the second quarter valued at about $555,000. Hedge funds and other institutional investors own 75.17% of the company’s stock.

Several equities analysts recently issued reports on the stock. Deutsche Bank AG cut shares of MGM Resorts International from a “buy” rating to a “hold” rating and set a $36.00 price target on the stock. in a research report on Monday, September 11th. Bank of America Corporation reiterated a “buy” rating and set a $40.00 price target (up previously from $38.00) on shares of MGM Resorts International in a research report on Friday, September 8th. Stifel Nicolaus reiterated a “buy” rating on shares of MGM Resorts International in a research report on Friday, September 1st. UBS AG cut shares of MGM Resorts International from a “buy” rating to a “neutral” rating and boosted their price target for the company from $33.00 to $36.00 in a research report on Tuesday, August 1st. Finally, BidaskClub cut shares of MGM Resorts International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $35.12.

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In other news, Director Mary Christine Gay sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $31.88, for a total transaction of $95,640.00. Following the completion of the sale, the director now owns 11,208 shares in the company, valued at approximately $357,311.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James Murren sold 294,150 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $34.08, for a total transaction of $10,024,632.00. Following the sale, the chief executive officer now owns 71,442 shares of the company’s stock, valued at approximately $2,434,743.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 819,831 shares of company stock valued at $27,686,927. Company insiders own 12.20% of the company’s stock.

MGM Resorts International (NYSE:MGM) opened at 33.08 on Thursday. The stock has a market capitalization of $19.03 billion, a PE ratio of 19.59 and a beta of 1.48. MGM Resorts International has a 12-month low of $24.78 and a 12-month high of $34.65. The stock’s 50 day moving average is $31.97 and its 200 day moving average is $30.74.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.03. MGM Resorts International had a net margin of 9.26% and a return on equity of 7.97%. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities analysts anticipate that MGM Resorts International will post $1.29 EPS for the current fiscal year.

MGM Resorts International declared that its board has authorized a share repurchase plan on Tuesday, September 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Monday, September 11th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.44 annualized dividend and a yield of 1.33%. MGM Resorts International’s dividend payout ratio (DPR) is 26.04%.

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.

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

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