Bank of Montreal Can Trims Position in MGM Resorts International (NYSE:MGM)

Bank of Montreal Can decreased its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 19.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 233,914 shares of the company's stock after selling 57,966 shares during the period. Bank of Montreal Can owned 0.08% of MGM Resorts International worth $8,105,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Davis Selected Advisers raised its holdings in MGM Resorts International by 4.6% during the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock worth $690,253,000 after purchasing an additional 882,417 shares during the last quarter. Norges Bank bought a new stake in shares of MGM Resorts International during the fourth quarter worth approximately $88,033,000. Charles Schwab Investment Management Inc. lifted its holdings in MGM Resorts International by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company's stock valued at $79,110,000 after buying an additional 38,749 shares during the period. Wells Fargo & Company MN boosted its stake in MGM Resorts International by 11.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,910,828 shares of the company's stock valued at $66,210,000 after acquiring an additional 198,449 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in MGM Resorts International by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,323,992 shares of the company's stock worth $45,876,000 after acquiring an additional 42,256 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MGM has been the topic of a number of analyst reports. Jefferies Financial Group cut their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, January 3rd. Morgan Stanley lowered their price target on shares of MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Stifel Nicolaus lifted their price objective on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Macquarie restated an "outperform" rating and issued a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Needham & Company LLC reiterated a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $50.71.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, CFO Jonathan S. Halkyard purchased 10,000 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the purchase, the chief financial officer now owns 75,648 shares of the company's stock, valued at $2,433,596.16. This trade represents a 15.23 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their position. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International Price Performance

MGM traded up $0.43 on Friday, reaching $28.89. The stock had a trading volume of 4,333,562 shares, compared to its average volume of 4,613,043. The company has a market capitalization of $8.18 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. The firm has a 50-day moving average of $32.23 and a 200-day moving average of $35.00. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $47.26.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, sell-side analysts anticipate that MGM Resorts International will post 2.21 EPS for the current year.

MGM Resorts International Profile

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.