National Bank of Canada FI Buys 48,443 Shares of MGM Resorts International (NYSE:MGM)

National Bank of Canada FI grew its position in MGM Resorts International (NYSE:MGM - Free Report) by 67.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 120,664 shares of the company's stock after buying an additional 48,443 shares during the period. National Bank of Canada FI's holdings in MGM Resorts International were worth $4,717,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. increased its holdings in shares of MGM Resorts International by 1.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company's stock worth $1,018,000 after acquiring an additional 278 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in MGM Resorts International during the 2nd quarter worth approximately $3,314,000. Fifth Third Bancorp lifted its stake in MGM Resorts International by 3.6% in the second quarter. Fifth Third Bancorp now owns 14,975 shares of the company's stock valued at $665,000 after buying an additional 525 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of MGM Resorts International in the second quarter valued at approximately $447,000. Finally, &PARTNERS increased its position in shares of MGM Resorts International by 145.3% during the second quarter. &PARTNERS now owns 20,213 shares of the company's stock worth $898,000 after acquiring an additional 11,972 shares in the last quarter. Institutional investors own 68.11% of the company's stock.

MGM Resorts International Stock Performance

MGM traded down $0.55 during trading hours on Friday, reaching $36.25. The company's stock had a trading volume of 2,642,083 shares, compared to its average volume of 4,060,047. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The company's 50-day moving average is $38.45 and its 200-day moving average is $39.39. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24. The firm has a market cap of $10.79 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced 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 company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 EPS. On average, equities analysts forecast that MGM Resorts International will post 2.48 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 22nd. Mizuho decreased their price objective on MGM Resorts International from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. 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. UBS Group raised shares of MGM Resorts International to a "hold" rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company cut their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an "overweight" rating on the stock in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $52.54.

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.