National Bank of Canada FI Trims Holdings in MGM Resorts International (NYSE:MGM)

National Bank of Canada FI reduced its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 11.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 107,036 shares of the company's stock after selling 13,628 shares during the period. National Bank of Canada FI's holdings in MGM Resorts International were worth $3,709,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MGM. Investment Management Corp of Ontario grew its position in shares of MGM Resorts International by 47.4% during the 3rd quarter. Investment Management Corp of Ontario now owns 7,777 shares of the company's stock worth $304,000 after buying an additional 2,500 shares in the last quarter. Quantinno Capital Management LP grew its holdings in MGM Resorts International by 140.2% during the 3rd quarter. Quantinno Capital Management LP now owns 99,070 shares of the company's stock worth $3,873,000 after acquiring an additional 57,818 shares in the last quarter. Stifel Financial Corp increased its position in MGM Resorts International by 13.8% during the 3rd quarter. Stifel Financial Corp now owns 169,829 shares of the company's stock valued at $6,639,000 after purchasing an additional 20,542 shares during the period. Weiss Asset Management LP bought a new stake in shares of MGM Resorts International in the 3rd quarter valued at about $1,319,000. Finally, Groupama Asset Managment lifted its position in shares of MGM Resorts International by 17.6% in the 3rd quarter. Groupama Asset Managment now owns 96,510 shares of the company's stock worth $3,773,000 after purchasing an additional 14,464 shares during the period. Institutional investors own 68.11% of the company's stock.

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Analyst Ratings Changes

A number of brokerages recently commented on MGM. Susquehanna Bancshares boosted their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Capital One Financial boosted their price target on MGM Resorts International from $52.00 to $56.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Jefferies Financial Group dropped their price objective on 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. Argus upgraded shares of MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a report on Friday, February 14th. Finally, Macquarie restated an "outperform" rating and issued a $50.00 price target on shares of MGM Resorts International in a 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. According to MarketBeat.com, MGM Resorts International presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.29.

MGM Resorts International Price Performance

MGM stock traded up $0.64 during mid-day trading on Friday, reaching $29.39. 4,814,656 shares of the company's stock were exchanged, compared to its average volume of 4,582,231. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $47.26. The stock's 50 day moving average is $32.64 and its 200 day moving average is $35.25. The company has a market cap of $8.32 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) 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%. On average, research analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

Insider Buying and Selling

In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the transaction, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. The trade was a 24.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.83% of the company's stock.

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.