Toronto Dominion Bank Has $2.91 Million Position in MGM Resorts International (NYSE:MGM)

Toronto Dominion Bank lowered its holdings in MGM Resorts International (NYSE:MGM - Free Report) by 30.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 83,910 shares of the company's stock after selling 36,565 shares during the period. Toronto Dominion Bank's holdings in MGM Resorts International were worth $2,907,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MGM. Shell Asset Management Co. raised its stake in shares of MGM Resorts International by 141.8% in the 4th quarter. Shell Asset Management Co. now owns 5,494 shares of the company's stock valued at $190,000 after purchasing an additional 3,222 shares in the last quarter. Southeastern Asset Management Inc. TN grew its position in shares of MGM Resorts International by 9.6% in the 4th quarter. Southeastern Asset Management Inc. TN now owns 2,409,147 shares of the company's stock worth $83,477,000 after acquiring an additional 211,245 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in shares of MGM Resorts International by 6.8% in the 4th quarter. Rafferty Asset Management LLC now owns 29,929 shares of the company's stock valued at $1,037,000 after acquiring an additional 1,902 shares during the last quarter. ProShare Advisors LLC raised its position in shares of MGM Resorts International by 4.3% during the 4th quarter. ProShare Advisors LLC now owns 54,774 shares of the company's stock valued at $1,898,000 after acquiring an additional 2,274 shares in the last quarter. Finally, Mufg Securities Americas Inc. bought a new position in MGM Resorts International during the fourth quarter worth $116,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MGM. Wedbush reiterated an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Macquarie lowered their price objective on shares of MGM Resorts International from $50.00 to $48.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Barclays increased their price objective on shares of MGM Resorts International from $41.00 to $43.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Needham & Company LLC reaffirmed a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Leerink Partners downgraded MGM Resorts International to a "market perform" rating in a report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $48.94.

MGM Resorts International Trading Down 0.2%

Shares of MGM Resorts International stock traded down $0.07 on Wednesday, reaching $31.92. 487,626 shares of the company were exchanged, compared to its average volume of 4,750,870. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $47.26. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 0.98 and a beta of 1.78. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The stock has a fifty day moving average price of $30.90 and a 200-day moving average price of $33.53.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.19. The firm had revenue of $4.28 billion for the quarter, compared to analysts' expectations of $4.29 billion. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. The company's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 EPS. On average, analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

MGM Resorts International announced that its board has initiated a share buyback plan on Wednesday, April 30th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 22.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at MGM Resorts International

In other news, Director Daniel J. Taylor sold 5,261 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $34.93, for a total transaction of $183,766.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jonathan S. Halkyard bought 10,000 shares of MGM Resorts International stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the purchase, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at approximately $2,433,596.16. The trade was a 15.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.06% of the company's stock.

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.