Cambridge Investment Research Advisors Inc. raised its position in shares of MGM Resorts International (NYSE:MGM) by 53.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,994 shares of the company’s stock after acquiring an additional 6,250 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in MGM Resorts International were worth $563,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. IFP Advisors Inc boosted its position in MGM Resorts International by 0.7% during the first quarter. IFP Advisors Inc now owns 4,558 shares of the company’s stock valued at $125,000 after acquiring an additional 31 shares during the last quarter. World Asset Management Inc boosted its position in MGM Resorts International by 0.5% during the second quarter. World Asset Management Inc now owns 19,646 shares of the company’s stock valued at $615,000 after acquiring an additional 91 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in MGM Resorts International by 0.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 34,213 shares of the company’s stock valued at $937,000 after acquiring an additional 140 shares during the last quarter. Pacer Advisors Inc. boosted its position in MGM Resorts International by 3.4% during the first quarter. Pacer Advisors Inc. now owns 9,269 shares of the company’s stock valued at $254,000 after acquiring an additional 302 shares during the last quarter. Finally, Amalgamated Bank boosted its position in MGM Resorts International by 2.6% during the first quarter. Amalgamated Bank now owns 25,996 shares of the company’s stock valued at $712,000 after acquiring an additional 650 shares during the last quarter. 75.22% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have commented on the stock. BidaskClub raised shares of MGM Resorts International from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research cut shares of MGM Resorts International from a “hold” rating to a “sell” rating in a research report on Wednesday, June 28th. Telsey Advisory Group upped their price target on shares of MGM Resorts International from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Bank of America Corporation reaffirmed 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. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $36.00 price target (up previously from $34.00) on shares of MGM Resorts International in a research report on Sunday, July 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have given a buy rating to the company. MGM Resorts International has an average rating of “Buy” and an average target price of $35.12.

In related news, CEO James Murren sold 294,150 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were 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 $2,434,743.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Christine Gay sold 3,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $31.88, for a total transaction of $95,640.00. Following the sale, the director now directly owns 11,208 shares in the company, valued at approximately $357,311.04. The disclosure for this sale can be found here. Insiders have sold 770,652 shares of company stock worth $26,057,626 in the last three months. 12.20% of the stock is currently owned by insiders.

MGM Resorts International (NYSE MGM) opened at 33.25 on Monday. MGM Resorts International has a 12 month low of $24.26 and a 12 month high of $34.65. The company has a 50-day moving average of $32.23 and a 200 day moving average of $30.39. The company has a market cap of $19.13 billion, a PE ratio of 19.69 and a beta of 1.48.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.31 EPS for the quarter, topping the 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 analyst estimates of $2.67 billion. During the same quarter in the previous year, the firm posted $0.29 earnings per share. MGM Resorts International’s quarterly revenue was up 16.4% on a year-over-year basis. On average, equities analysts forecast that MGM Resorts International will post $1.29 earnings per share for the current fiscal year.

MGM Resorts International announced that its board has approved a stock repurchase program on Tuesday, September 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 5.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Monday, September 11th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, September 8th. MGM Resorts International’s payout ratio is currently 26.04%.

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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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