Landscape Capital Management L.L.C. Acquires New Stake in MGM Resorts International (NYSE:MGM)

Landscape Capital Management L.L.C. acquired a new stake in shares of MGM Resorts International (NYSE:MGM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,125 shares of the company’s stock, valued at approximately $459,000.

Other large investors have also bought and sold shares of the company. Price Wealth LLC purchased a new position in shares of MGM Resorts International in the third quarter worth about $29,000. Allworth Financial LP increased its holdings in shares of MGM Resorts International by 231.8% in the second quarter. Allworth Financial LP now owns 1,659 shares of the company’s stock worth $28,000 after buying an additional 1,159 shares during the period. WASHINGTON TRUST Co increased its holdings in shares of MGM Resorts International by 203.3% in the second quarter. WASHINGTON TRUST Co now owns 1,820 shares of the company’s stock worth $30,000 after buying an additional 1,220 shares during the period. Cornerstone Advisors Inc. increased its holdings in shares of MGM Resorts International by 347.8% in the second quarter. Cornerstone Advisors Inc. now owns 2,015 shares of the company’s stock worth $34,000 after buying an additional 1,565 shares during the period. Finally, Atlas Private Wealth Management purchased a new position in shares of MGM Resorts International in the second quarter worth about $42,000. 66.23% of the stock is owned by institutional investors.

MGM Resorts International stock opened at $26.21 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.20 and a current ratio of 2.24. The stock’s 50 day simple moving average is $22.45 and its two-hundred day simple moving average is $19.73. MGM Resorts International has a fifty-two week low of $5.90 and a fifty-two week high of $34.63. The stock has a market cap of $12.95 billion, a price-to-earnings ratio of 9.36 and a beta of 2.28.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Thursday, October 29th. The company reported ($1.08) EPS for the quarter, topping analysts’ consensus estimates of ($1.10) by $0.02. MGM Resorts International had a negative return on equity of 12.08% and a net margin of 20.81%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period in the previous year, the firm posted $0.31 EPS. The business’s revenue for the quarter was down 66.0% compared to the same quarter last year. On average, analysts predict that MGM Resorts International will post -4.1 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Thursday, December 10th will be given a $0.0025 dividend. The ex-dividend date of this dividend is Wednesday, December 9th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.04%. MGM Resorts International’s dividend payout ratio is currently 1.30%.

In other news, EVP John Mcmanus sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $22.84, for a total value of $456,800.00. Following the sale, the executive vice president now directly owns 92,567 shares of the company’s stock, valued at approximately $2,114,230.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.06% of the company’s stock.

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on MGM Resorts International from $17.00 to $23.00 and gave the company a “neutral” rating in a report on Wednesday, September 9th. Morgan Stanley boosted their price target on MGM Resorts International from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Friday, August 28th. Roth Capital boosted their price target on MGM Resorts International from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Barclays downgraded MGM Resorts International from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $17.00 to $20.00 in a report on Monday, October 12th. Finally, Bank of America restated a “sell” rating and set a $15.00 price target on shares of MGM Resorts International in a report on Friday, August 7th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $18.94.

About MGM Resorts International

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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