MGM Resorts International (NYSE:MGM) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank decreased its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 30.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 quarter.

Several other hedge funds have also recently bought and sold shares of the company. Assetmark Inc. increased its holdings in MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after purchasing an additional 411 shares during the period. Global Trust Asset Management LLC acquired a new stake in shares of MGM Resorts International in the 4th quarter valued at about $28,000. Global Retirement Partners LLC boosted its position in shares of MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock valued at $43,000 after purchasing an additional 404 shares during the period. Quarry LP lifted its position in MGM Resorts International by 750.6% during the 4th quarter. Quarry LP now owns 1,446 shares of the company's stock worth $50,000 after acquiring an additional 1,276 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in MGM Resorts International by 74.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company's stock worth $51,000 after acquiring an additional 633 shares during the period. Institutional investors and hedge funds own 68.11% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MGM shares. Stifel Nicolaus dropped their price objective on MGM Resorts International from $50.00 to $44.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. JMP Securities decreased their price objective on MGM Resorts International from $50.00 to $45.00 and set a "market outperform" rating on the stock in a report on Thursday, April 17th. Needham & Company LLC restated a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Canaccord Genuity Group reiterated a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Barclays lifted their target price on MGM Resorts International from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $48.94.

MGM Resorts International Stock Down 0.1%

Shares of MGM Resorts International stock opened at $31.35 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The firm has a market cap of $8.53 billion, a P/E ratio of 13.06, a P/E/G ratio of 0.98 and a beta of 1.78. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $47.26. The business has a 50-day moving average price of $30.94 and a 200 day moving average price of $33.67.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.50 by $0.19. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.29 billion. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. The business's revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 earnings per share. On average, sell-side analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

MGM Resorts International announced that its board has authorized a stock repurchase program on Wednesday, April 30th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 22.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, Director Daniel J. Taylor sold 5,261 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $34.93, for a total value of $183,766.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were purchased at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the purchase, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. This represents a 15.23% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.06% 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.

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