Toronto Dominion Bank Sells 36,565 Shares of MGM Resorts International (NYSE:MGM)

Toronto Dominion Bank cut its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 30.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 83,910 shares of the company's stock after selling 36,565 shares during the quarter. Toronto Dominion Bank's holdings in MGM Resorts International were worth $2,907,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MGM. Assetmark Inc. raised its position in MGM Resorts International by 104.1% in 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. True Wealth Design LLC bought a new position in shares of MGM Resorts International during the fourth quarter valued at about $33,000. Global Retirement Partners LLC increased its holdings in shares of MGM Resorts International by 47.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after buying an additional 404 shares during the period. Quarry LP lifted its stake in shares of MGM Resorts International by 750.6% in the 4th quarter. Quarry LP now owns 1,446 shares of the company's stock valued at $50,000 after acquiring an additional 1,276 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings 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 valued at $51,000 after acquiring an additional 633 shares during the period. 68.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MGM has been the topic of a number of analyst reports. BTIG Research cut MGM Resorts International from a "buy" rating to a "neutral" rating in a research note on Monday, February 3rd. Susquehanna lifted their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a "positive" rating in a research note on Thursday, May 1st. Wedbush restated an "outperform" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Citigroup lifted their price objective on MGM Resorts International from $48.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Finally, Susquehanna Bancshares upped their target price on MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $48.94.

MGM Resorts International Stock Up 3.1%

Shares of NYSE MGM traded up $0.98 during trading on Tuesday, reaching $32.15. The company had a trading volume of 2,673,162 shares, compared to its average volume of 4,802,731. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $47.26. 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 business's 50-day moving average is $30.86 and its 200 day moving average is $33.35. The stock has a market cap of $8.75 billion, a PE ratio of 13.40, a P/E/G ratio of 0.98 and a beta of 1.78.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.19. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.29 billion. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. MGM Resorts International's revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.74 EPS. As a group, equities 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 approved a share repurchase program on Wednesday, April 30th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 22.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Insider Activity 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 shares were sold at an average price of $34.93, for a total transaction of $183,766.73. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Corey Ian Sanders sold 40,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $34.43, for a total transaction of $1,377,200.00. Following the transaction, the chief operating officer now directly owns 281,530 shares of the company's stock, valued at $9,693,077.90. The trade was a 12.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.06% of the stock is owned by insiders.

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.