MGM Resorts International (NYSE:MGM) Stake Decreased by Korea Investment CORP

Cornelia Mascio
Novembre 14, 2017

State of Wisconsin Investment Board increased its position in MGM Resorts International (NYSE:MGM) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). Capital Fincl Advisers Llc owns 0% invested in MGM Resorts International (NYSE:MGM) for 11,921 shares.

Other institutional investors also recently modified their holdings of the company. Finally, Private Advisor Group LLC bought a new position in MGM Resorts International during the second quarter worth $217,000. Janus Henderson Group PLC now owns 1,106,856 shares of the company's stock valued at $34,634,000 after acquiring an additional 1,053,597 shares during the period. Capital Research Global Investors lifted its position in MGM Resorts International by 1.9% in the second quarter. Canyon Capital Advisors LLC lifted its position in MGM Resorts International by 8.9% in the second quarter. Three Peaks Capital Management, LLC reduced its ownership by shedding 9,085 shares a decrease of 2.6% from 06/30/2017 to 09/30/2017. State Street Corp lifted its position in MGM Resorts International by 1.0% in the second quarter. Elk Creek Prns Limited Liability Corp holds 12,970 shares or 0.03% of its portfolio. On Thursday, May 25 SELWOOD ROBERT sold $317,052 worth of MGM Resorts International (NYSE:MGM) or 10,046 shares. Finally, Roth Capital began coverage on shares of MGM Resorts International in a research note on Wednesday, October 25th. MGM Resorts International has a 1-year low of $25.15 and a 1-year high of $34.65. The firm has a market cap of $18,614.63, a P/E ratio of 29.10, a PEG ratio of 7.47 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 1.26.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Barclays Public Ltd invested in 0.12% or 3.50 million shares. The rating was initiated by Goldman Sachs with "Buy" on Friday, December 16. This represents a $0.44 dividend on an annualized basis and a yield of 1.34%. MGM Resorts International's dividend payout ratio is presently 43.14%.

The company is trading down by 0.18% percent from yesterday's close. This repurchase authorization allows the company to repurchase up to 5.3% of its shares through open market purchases. Following the sale, the executive vice president now directly owns 40,744 shares in the company, valued at approximately $1,373,072.80. The stock was sold at an average price of C$24.66, for a total value of C$58,962.06. Following the completion of the sale, the insider now owns 145,105 shares in the company, valued at $4,807,328.65. The transaction was disclosed in a document filed with the SEC, which is available through this link.

In other news, insider Corey Ian Sanders sold 16,446 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $34.19, for a total value of $8,881,194.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 698,548 shares of company stock valued at $23,770,532. The Company owns and operates casino resorts.

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A number of research analysts have issued reports on the company. The firm has "Buy" rating by Stifel Nicolaus given on Friday, February 17. Comerica Bancorporation has invested 0.01% in MGM Resorts International (NYSE:MGM). The company now has an average rating of "Buy" and an average price target of C$28.20. Nomura dropped their price target on shares of MGM Resorts International from $38.00 to $37.00 and set a "buy" rating for the company in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of MGM Resorts International from a "sell" rating to a "hold" rating in a research note on Friday. The stock of MGM Resorts International (NYSE:MGM) earned "Buy" rating by Stifel Nicolaus on Thursday, June 9. One research analyst has rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock.

On October 13, 2017 Morgan Stanley updated its forecast on MGM and giving a rating of "Buy" and projecting a price target of $34.00. The Company's residential real estate segment plans and develops primary residential and resort residential communities of various sizes on its existing land. The Company, through its subsidiaries, owns and operates casino resorts. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.

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