MGM Resorts International (NYSE:MGM) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank decreased its position in MGM Resorts International (NYSE:MGM) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,475 shares of the company’s stock after selling 1,506 shares during the quarter. Toronto Dominion Bank’s holdings in MGM Resorts International were worth $4,709,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Groupama Asset Managment boosted its position in shares of MGM Resorts International by 17.6% during the 3rd quarter. Groupama Asset Managment now owns 96,510 shares of the company’s stock valued at $3,773,000 after purchasing an additional 14,464 shares in the last quarter. CTC Alternative Strategies Ltd. acquired a new stake in MGM Resorts International during the third quarter valued at approximately $229,000. Zacks Investment Management boosted its holdings in MGM Resorts International by 7.8% during the third quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock worth $15,651,000 after buying an additional 29,107 shares in the last quarter. National Bank of Canada FI grew its position in MGM Resorts International by 67.1% in the third quarter. National Bank of Canada FI now owns 120,664 shares of the company’s stock worth $4,717,000 after buying an additional 48,443 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC increased its holdings in shares of MGM Resorts International by 2.4% in the third quarter. Kovitz Investment Group Partners LLC now owns 255,241 shares of the company’s stock valued at $9,822,000 after buying an additional 5,895 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.13% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MGM. Deutsche Bank Aktiengesellschaft reduced their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Truist Financial dropped their price target on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. JMP Securities reduced their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a research note on Monday, November 25th. Barclays dropped their target price on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, UBS Group upgraded shares of MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.54.

MGM Resorts International Trading Down 1.5 %

Shares of NYSE:MGM opened at $36.25 on Friday. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $10.79 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20. The firm has a fifty day moving average of $38.37 and a two-hundred day moving average of $39.37.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The firm had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter last year, the firm earned $0.64 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts expect that MGM Resorts International will post 2.48 EPS for the current fiscal year.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. 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.