Croft-leominster Inc Lowers stake in MGM Resorts International (MGM)

MGM Resorts International (MGM) : Croft-leominster Inc reduced its stake in MGM Resorts International by 1.9% during the most recent quarter end. The investment management company now holds a total of 303,295 shares of MGM Resorts International which is valued at $7,430,728 after selling 5,877 shares in MGM Resorts International , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.MGM Resorts International makes up approximately 1.60% of Croft-leominster Inc’s portfolio.

Other Hedge Funds, Including , Norges Bank boosted its stake in MGM in the latest quarter, The investment management firm added 88,531 additional shares and now holds a total of 3,459,356 shares of MGM Resorts International which is valued at $84,754,222. MGM Resorts International makes up approx 0.04% of Norges Bank’s portfolio.Blackrock Japan Ltd boosted its stake in MGM in the latest quarter, The investment management firm added 808 additional shares and now holds a total of 554,730 shares of MGM Resorts International which is valued at $13,590,885. MGM Resorts International makes up approx 0.05% of Blackrock Japan Ltd’s portfolio.World Asset Management Inc boosted its stake in MGM in the latest quarter, The investment management firm added 1,456 additional shares and now holds a total of 13,077 shares of MGM Resorts International which is valued at $310,971. MGM Resorts International makes up approx 0.01% of World Asset Management Inc’s portfolio.Sumitomo Mitsui Asset Management Company Ltd boosted its stake in MGM in the latest quarter, The investment management firm added 649 additional shares and now holds a total of 33,803 shares of MGM Resorts International which is valued at $810,596. MGM Resorts International makes up approx 0.02% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.Nn Investment Partners Holdings N.v. boosted its stake in MGM in the latest quarter, The investment management firm added 10,500 additional shares and now holds a total of 155,404 shares of MGM Resorts International which is valued at $3,594,495. MGM Resorts International makes up approx 0.03% of Nn Investment Partners Holdings N.v.’s portfolio.

MGM Resorts International (MGM) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $23.72 and reached the intraday high at $23.8699. The bulls started the profit booking and pushed the shares to intraday low of $23.52. The trading session was marked by a volume range of 30,79,619 shares exchanging hands. The 52-week high of the shares is $25.29 and the 52-week low is $16.18. The market cap of the company stands at $13,439 M and there are 56,56,14,240 shares in public circulation.

On the company’s financial health, MGM Resorts International reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.25. The company had revenue of $2269.50 million for the quarter, compared to analysts expectations of $2330.39 million. The company’s revenue was down -4.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.19 EPS.

Many Wall Street Analysts have commented on MGM Resorts International. Company shares were Reiterated by Telsey Advisory Group on Jun 17, 2016 to “Outperform”, Firm has raised the Price Target to $ 29 from a previous price target of $27 .Company shares were Reiterated by Stifel on Jun 9, 2016 to “Buy”, Firm has raised the Price Target to $ 30 from a previous price target of $27 .

MGM Resorts International is a holding company. Through its wholly owned subsidiaries the Company owns and operates casino resorts. The Company operates in two segments: wholly owned domestic resorts and MGM China. The wholly owned domestic resorts segment includes non-gaming operations including hotel food and beverage entertainment and other non-gaming amenities. Its casino operations feature a variety of table games and race and sports book wagering. It operates over 15 wholly owned resorts in the United States. The MGM China segment’s operations consist of the MGM Macau resort and casino (MGM Macau) and the development of a gaming resort in Cotai Macau. It owns and operates two resorts in Mississippi which includes Beau Rivage in Biloxi and Gold Strike Tunica. It also owns Shadow Creek Primm Valley Golf Club at the California/Nevada state line and Fallen Oak golf course in Saucier Mississippi.

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