The Mitsubishi UFJ Kokusai Asset Management Co. Ltd. has pulled its stakes in MGM Resorts International (NYSE: MGM). In its recent filing with the US Securities and Exchange Commission (SEC), the company reported that they had reduced their shares in MGM International, an American global hospitality and entertainment company having multiple resorts and casinos in the US and other parts of the world, by 12.7% in the final quarter of 2018.
The Mitsubishi UFJ Kokusai Asset Management Co. Ltd held 62,531 shares of MGM as they sold 9,124 shares in three months, and now their holdings in MGM are an estimated $1,545,000, according to their latest SEC filing. MGM’s market capitalization stands at $14.31 billion as of today.
Though Mitsubishi UFJ Kokusai Asset Management Co. Ltd has moved a significant percentage of their shares in MGM International; they are not the only ones to restructure their holdings. Lindbrook Capital LLC, for the final quarter of 2018, has reported having acquired stakes in MGM valued at $34000. Oregon Public Employees Retirement Fund (OPERF) have also increased their shares in MGM as they acquired 1,292,231 shares for the same period.
In its latest earnings statement, published on February 13th, MGM MGM Resorts International (NYSE: MGM) had reported $0.14 EPS for the last quarter of 2018 which superseded the Reuters’ consensus estimate of $0.13 by $0.01. MGM generated revenues worth $3.05 billion, while the Reuters consensus estimated the earnings at $3.01 billion.
Amidst all this, the company has also declared a quarterly dividend of $0.13 for all its shareholders. While MGM is a big name in the industry, earlier in January, they were also named amongst the World’s most admired companies.