National Bank of Canada FI Buys 63,235 Shares of MGM Resorts International (NYSE:MGM)

National Bank of Canada FI boosted its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 59.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 170,271 shares of the company's stock after buying an additional 63,235 shares during the period. National Bank of Canada FI owned approximately 0.06% of MGM Resorts International worth $5,047,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MGM. Mascagni Wealth Management Inc. bought a new stake in MGM Resorts International during the fourth quarter valued at $28,000. Golden State Wealth Management LLC boosted its stake in MGM Resorts International by 83.5% during the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company's stock valued at $30,000 after buying an additional 455 shares during the period. True Wealth Design LLC bought a new stake in MGM Resorts International during the fourth quarter valued at $33,000. CX Institutional bought a new stake in MGM Resorts International during the first quarter valued at $36,000. Finally, Bayforest Capital Ltd bought a new stake in MGM Resorts International during the first quarter valued at $43,000. Institutional investors own 68.11% of the company's stock.

MGM Resorts International Stock Up 3.0%

Shares of NYSE:MGM opened at $36.45 on Thursday. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $42.53. The company has a market cap of $9.92 billion, a PE ratio of 20.03, a P/E/G ratio of 1.67 and a beta of 1.81. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.18. The stock's 50-day moving average is $35.67 and its 200 day moving average is $33.51.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.21. MGM Resorts International had a return on equity of 19.39% and a net margin of 3.13%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the business earned $0.86 EPS. MGM Resorts International's revenue was up 1.8% compared to the same quarter last year. Sell-side analysts anticipate that MGM Resorts International will post 2.21 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MGM. UBS Group lifted their price target on MGM Resorts International from $37.00 to $42.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Citizens Jmp lowered MGM Resorts International from an "outperform" rating to a "market perform" rating in a research note on Thursday, June 26th. Barclays lifted their price target on MGM Resorts International from $43.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Seaport Res Ptn lowered MGM Resorts International from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 21st. Finally, Citigroup raised MGM Resorts International from a "hold" rating to a "strong-buy" rating and lifted their price target for the stock from $55.00 to $57.00 in a research note on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $48.72.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 60,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $32.09, for a total transaction of $1,925,400.00. Following the sale, the director directly owned 5,627,478 shares of the company's stock, valued at approximately $180,585,769.02. The trade was a 1.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.06% of the stock is currently owned by corporate 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.

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