Public Employees Retirement System of Ohio cut its stake in shares of MGM Resorts International (NYSE:MGM) by 63.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 178,885 shares of the company’s stock after selling 308,579 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in MGM Resorts International were worth $5,111,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MGM. Renaissance Technologies LLC boosted its stake in MGM Resorts International by 15,340.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,516,870 shares of the company’s stock valued at $71,907,000 after purchasing an additional 2,500,570 shares in the last quarter. Marshall Wace LLP boosted its stake in MGM Resorts International by 333.7% during the 1st quarter. Marshall Wace LLP now owns 2,304,842 shares of the company’s stock valued at $59,142,000 after purchasing an additional 1,773,424 shares in the last quarter. FMR LLC boosted its stake in MGM Resorts International by 80.0% during the 1st quarter. FMR LLC now owns 2,904,720 shares of the company’s stock valued at $74,535,000 after purchasing an additional 1,290,996 shares in the last quarter. GMT Capital Corp boosted its stake in MGM Resorts International by 23.2% during the 1st quarter. GMT Capital Corp now owns 2,339,800 shares of the company’s stock valued at $60,039,000 after purchasing an additional 440,300 shares in the last quarter. Finally, Long Pond Capital LP boosted its stake in MGM Resorts International by 38.0% during the 1st quarter. Long Pond Capital LP now owns 1,409,400 shares of the company’s stock valued at $36,165,000 after purchasing an additional 387,763 shares in the last quarter. 82.57% of the stock is owned by institutional investors.

MGM has been the subject of a number of research reports. Bank of America lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Susquehanna Bancshares initiated coverage on MGM Resorts International in a research note on Wednesday, July 24th. They set a “negative” rating and a $23.00 price target for the company. ValuEngine lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Thursday, August 15th. Argus increased their price target on MGM Resorts International to $35.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Citigroup initiated coverage on MGM Resorts International in a research note on Wednesday, July 24th. They set a $23.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. MGM Resorts International has an average rating of “Hold” and an average price target of $30.91.

In other news, Director Rose Mckinney-James sold 2,670 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $28.15, for a total transaction of $75,160.50. Following the completion of the sale, the director now owns 4,616 shares in the company, valued at approximately $129,940.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Atif Rafiq acquired 8,761 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were bought at an average price of $28.55 per share, with a total value of $250,126.55. Following the transaction, the insider now directly owns 8,761 shares in the company, valued at approximately $250,126.55. The disclosure for this purchase can be found here. Insiders have bought a total of 745,402 shares of company stock valued at $20,784,509 in the last quarter. Insiders own 3.47% of the company’s stock.

Shares of NYSE:MGM traded up $0.01 on Friday, reaching $29.18. 137,030 shares of the company traded hands, compared to its average volume of 5,062,576. MGM Resorts International has a fifty-two week low of $21.61 and a fifty-two week high of $31.68. The company’s 50 day moving average is $28.64 and its 200-day moving average is $27.43. The stock has a market capitalization of $15.38 billion, a PE ratio of 29.51, a P/E/G ratio of 4.24 and a beta of 1.49. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.73 and a quick ratio of 0.69.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). MGM Resorts International had a net margin of 1.56% and a return on equity of 3.77%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same quarter last year, the company posted $0.26 EPS. MGM Resorts International’s revenue was up 12.7% on a year-over-year basis. As a group, analysts expect that MGM Resorts International will post 0.85 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.13 per share. The ex-dividend date is Monday, September 9th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.78%. MGM Resorts International’s dividend payout ratio (DPR) is presently 52.53%.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates integrated 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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