Toronto Dominion Bank Sells 32,635 Shares of MGM Resorts International (NYSE:MGM)

Toronto Dominion Bank cut its holdings in shares of MGM Resorts International (NYSE:MGM) by 21.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,981 shares of the company’s stock after selling 32,635 shares during the quarter. Toronto Dominion Bank’s holdings in MGM Resorts International were worth $5,421,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Capital World Investors increased its holdings in shares of MGM Resorts International by 17.7% in the fourth quarter. Capital World Investors now owns 6,551,310 shares of the company’s stock valued at $292,713,000 after purchasing an additional 984,617 shares during the last quarter. Goldentree Asset Management LP acquired a new position in MGM Resorts International in the 1st quarter valued at about $35,726,000. Marshall Wace LLP raised its holdings in MGM Resorts International by 174.8% in the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after acquiring an additional 706,159 shares during the period. Boston Partners lifted its position in MGM Resorts International by 12.6% during the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock worth $286,933,000 after acquiring an additional 684,676 shares during the last quarter. Finally, LSV Asset Management bought a new stake in shares of MGM Resorts International during the second quarter worth approximately $21,149,000. Institutional investors own 68.11% of the company’s stock.

Analyst Ratings Changes

MGM has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. JMP Securities dropped their target price on MGM Resorts International from $59.00 to $57.00 and set a “market outperform” rating for the company in a report on Thursday, August 1st. UBS Group upgraded shares of MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Stifel Nicolaus lifted their price objective on shares of MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Susquehanna boosted their price objective on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and an average price target of $53.93.

Insider Buying and Selling

In related news, Director Paul J. Salem bought 147,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the transaction, the director now directly owns 1,702,500 shares of the company’s stock, valued at approximately $57,544,500. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Paul J. Salem purchased 147,500 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $33.80 per share, for a total transaction of $4,985,500.00. Following the purchase, the director now owns 1,702,500 shares of the company’s stock, valued at $57,544,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the sale, the director now directly owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. The disclosure for this sale can be found here. Insiders purchased a total of 216,400 shares of company stock worth $7,312,197 in the last three months. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International Trading Up 3.4 %

Shares of MGM opened at $39.62 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24. The firm has a market cap of $12.43 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 0.68 and a beta of 2.22. The business’s fifty day moving average is $38.11 and its 200-day moving average is $41.05.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.20. The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 earnings per share. Equities analysts anticipate that MGM Resorts International will post 2.63 EPS for the current fiscal year.

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.