MGM Resorts International (NYSE:MGM) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp boosted its position in MGM Resorts International (NYSE:MGM) by 13.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,770 shares of the company’s stock after buying an additional 4,184 shares during the quarter. Cibc World Markets Corp’s holdings in MGM Resorts International were worth $1,239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MGM. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of MGM Resorts International by 0.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after acquiring an additional 309 shares during the last quarter. Ballentine Partners LLC boosted its holdings in MGM Resorts International by 5.4% in the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock worth $227,000 after purchasing an additional 333 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in MGM Resorts International by 1.7% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock valued at $684,000 after purchasing an additional 333 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares during the period. Finally, Assetmark Inc. lifted its position in shares of 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 buying an additional 411 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on MGM. JMP Securities reiterated a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th. Wedbush reiterated an “outperform” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Susquehanna Bancshares raised their price target on MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Capital One Financial upped their price objective on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Barclays reiterated an “equal weight” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.29.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $32.17 per share, with a total value of $321,700.00. Following the transaction, the chief financial officer now directly owns 75,648 shares in the company, valued at approximately $2,433,596.16. The trade was a 15.23 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Down 3.4 %

Shares of MGM stock opened at $31.42 on Friday. MGM Resorts International has a 1 year low of $29.99 and a 1 year high of $48.25. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The business’s fifty day moving average is $34.02 and its 200-day moving average is $36.07. The stock has a market cap of $8.97 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. Equities analysts expect that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

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.