UBS Asset Management Americas Inc. lifted its holdings in shares of MGM Resorts International (NYSE:MGM) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,158,838 shares of the company’s stock after buying an additional 20,369 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.20% of MGM Resorts International worth $36,260,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. World Asset Management Inc boosted its stake in shares of MGM Resorts International by 0.5% during the second quarter. World Asset Management Inc now owns 19,646 shares of the company’s stock worth $615,000 after buying an additional 91 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings 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 worth $937,000 after purchasing an additional 140 shares in the last quarter. Calamos Wealth Management LLC raised its holdings in MGM Resorts International by 0.5% during the second quarter. Calamos Wealth Management LLC now owns 52,540 shares of the company’s stock worth $1,644,000 after purchasing an additional 257 shares in the last quarter. Pacer Advisors Inc. raised its holdings in MGM Resorts International by 3.4% during the first quarter. Pacer Advisors Inc. now owns 9,269 shares of the company’s stock worth $254,000 after purchasing an additional 302 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in MGM Resorts International by 2.6% during the first quarter. Amalgamated Bank now owns 25,996 shares of the company’s stock worth $712,000 after purchasing an additional 650 shares in the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

MGM has been the subject of several analyst reports. Instinet reissued a “buy” rating and set a $40.00 price target (up from $35.00) on shares of MGM Resorts International in a report on Monday, June 19th. BidaskClub cut shares of MGM Resorts International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Deutsche Bank AG reissued a “buy” rating and set a $36.00 price target (up from $34.00) on shares of MGM Resorts International in a report on Sunday, July 30th. UBS AG reissued a “buy” rating on shares of MGM Resorts International in a report on Monday, July 10th. Finally, Stifel Nicolaus reissued a “buy” rating on shares of MGM Resorts International in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $35.12.

Shares of MGM Resorts International (NYSE:MGM) opened at 32.46 on Thursday. MGM Resorts International has a 52-week low of $25.15 and a 52-week high of $34.65. The stock has a 50 day moving average of $31.97 and a 200 day moving average of $30.74. The firm has a market capitalization of $18.67 billion, a price-to-earnings ratio of 19.22 and a beta of 1.48.

MGM Resorts International (NYSE:MGM) last released its earnings results on Thursday, July 27th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.67 billion. During the same period in the previous year, the firm earned $0.29 EPS. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, analysts predict that MGM Resorts International will post $1.29 EPS for the current fiscal year.

MGM Resorts International announced that its board has initiated a share buyback plan on Tuesday, September 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Monday, September 11th were issued a $0.11 dividend. The ex-dividend date was Friday, September 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.36%. MGM Resorts International’s payout ratio is currently 26.04%.

In related news, insider Robert Baldwin sold 49,179 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $33.13, for a total value of $1,629,300.27. Following the sale, the insider now directly owns 145,105 shares in the company, valued at approximately $4,807,328.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Murren sold 259,760 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $34.19, for a total transaction of $8,881,194.40. Following the completion of the sale, the chief executive officer now owns 71,442 shares in the company, valued at $2,442,601.98. The disclosure for this sale can be found here. Insiders sold a total of 819,831 shares of company stock worth $27,686,927 over the last quarter. Insiders own 12.20% of the company’s stock.

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MGM Resorts International Company 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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