Bank of Montreal Can Buys 27,883 Shares of MGM Resorts International (NYSE:MGM)

Bank of Montreal Can lifted its stake in shares of MGM Resorts International (NYSE:MGM) by 10.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 291,880 shares of the company’s stock after acquiring an additional 27,883 shares during the quarter. Bank of Montreal Can owned about 0.10% of MGM Resorts International worth $11,564,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Marshall Wace LLP grew its holdings in MGM Resorts International by 174.8% during the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after purchasing an additional 706,159 shares during the last quarter. Maverick Capital Ltd. bought a new stake in shares of MGM Resorts International during the 2nd quarter worth $1,211,000. Empower Advisory Group LLC grew its stake in MGM Resorts International by 4.2% in the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after buying an additional 62,997 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in MGM Resorts International in the 2nd quarter worth $3,314,000. Finally, American Assets Capital Advisers LLC lifted its position in MGM Resorts International by 135.0% during the 3rd quarter. American Assets Capital Advisers LLC now owns 469,552 shares of the company’s stock worth $18,355,000 after acquiring an additional 269,761 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

NYSE:MGM opened at $38.34 on Monday. The firm has a market capitalization of $11.42 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 2.74 and a beta of 2.23. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The firm has a 50-day moving average price of $38.70 and a 200 day moving average price of $39.60.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. Research analysts anticipate that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

MGM has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. JMP Securities cut their price target on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a report on Monday, November 25th. Wells Fargo & Company reduced their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. UBS Group raised shares of MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Finally, Barclays reduced their price target on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus target price of $52.85.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.13% of the company’s stock.

About MGM Resorts International

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.