Bank of Montreal Can Has $8.11 Million Position in MGM Resorts International (NYSE:MGM)

Bank of Montreal Can lessened its position in MGM Resorts International (NYSE:MGM) by 19.9% during the 4th quarter, Holdings Channel reports. The firm owned 233,914 shares of the company’s stock after selling 57,966 shares during the quarter. Bank of Montreal Can’s holdings in MGM Resorts International were worth $8,105,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Virtu Financial LLC acquired a new position in MGM Resorts International in the third quarter valued at about $641,000. Sanctuary Advisors LLC raised its stake in shares of MGM Resorts International by 60.3% in the third quarter. Sanctuary Advisors LLC now owns 51,687 shares of the company’s stock valued at $1,954,000 after acquiring an additional 19,444 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of MGM Resorts International in the third quarter valued at approximately $55,000. Tidal Investments LLC boosted its holdings in shares of MGM Resorts International by 269.7% in the 3rd quarter. Tidal Investments LLC now owns 33,050 shares of the company’s stock worth $1,292,000 after acquiring an additional 24,111 shares in the last quarter. Finally, Synovus Financial Corp bought a new stake in MGM Resorts International during the 3rd quarter worth approximately $309,000. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $29.39 on Monday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $47.26. The company’s 50 day moving average price is $32.64 and its two-hundred day moving average price is $35.23. The company has a market capitalization of $8.32 billion, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, analysts expect that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MGM shares. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Mizuho raised their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. BTIG Research cut shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Macquarie reiterated an “outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Morgan Stanley boosted their price objective on MGM Resorts International from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.29.

Insider Transactions at MGM Resorts International

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

MGM Resorts International Company 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.