Bank of Montreal Can Purchases 27,883 Shares of MGM Resorts International (NYSE:MGM)

Bank of Montreal Can boosted its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 10.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 291,880 shares of the company's stock after buying an additional 27,883 shares during the period. Bank of Montreal Can owned about 0.10% of MGM Resorts International worth $11,564,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MGM. Marshall Wace LLP lifted its holdings in shares of MGM Resorts International by 174.8% during the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company's stock valued at $49,330,000 after acquiring an additional 706,159 shares during the period. LSV Asset Management bought a new position in shares of MGM Resorts International in the second quarter valued at about $21,149,000. Shellback Capital LP raised its holdings in shares of MGM Resorts International by 433.3% in the second quarter. Shellback Capital LP now owns 400,000 shares of the company's stock valued at $17,776,000 after buying an additional 325,000 shares during the last quarter. American Assets Capital Advisers LLC raised its holdings in shares of MGM Resorts International by 135.0% in the third quarter. American Assets Capital Advisers LLC now owns 469,552 shares of the company's stock valued at $18,355,000 after buying an additional 269,761 shares during the last quarter. Finally, Matthew 25 Management Corp bought a new position in shares of MGM Resorts International in the second quarter valued at about $8,888,000. 68.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MGM. Wells Fargo & Company cut their price target on MGM Resorts International from $53.00 to $47.00 and set an "overweight" rating for the company in a report on Thursday, October 17th. Barclays dropped their price objective on MGM Resorts International from $54.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, October 31st. UBS Group upgraded MGM Resorts International to a "hold" rating in a research report on Friday, August 23rd. JMP Securities decreased their target price on MGM Resorts International from $54.00 to $50.00 and set a "market outperform" rating for the company in a research report on Monday, November 25th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on MGM Resorts International from $57.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $52.85.

MGM Resorts International Price Performance

NYSE:MGM traded down $0.09 during trading hours on Monday, hitting $38.25. The company's stock had a trading volume of 1,302,886 shares, compared to its average volume of 4,066,076. The stock has a fifty day simple moving average of $38.70 and a 200-day simple moving average of $39.59. The company has a market capitalization of $11.39 billion, a P/E ratio of 13.69, a PEG ratio of 2.74 and a beta of 2.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. MGM Resorts International's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 earnings per share. On average, analysts anticipate that MGM Resorts International will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares of the company's stock, valued at $210,716,912.16. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.13% of the company's stock.

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.