TD Private Client Wealth LLC Trims Stock Holdings in MGM Resorts International (NYSE:MGM)

TD Private Client Wealth LLC reduced its stake in shares of MGM Resorts International (NYSE:MGM) by 24.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,334 shares of the company’s stock after selling 2,708 shares during the period. TD Private Client Wealth LLC’s holdings in MGM Resorts International were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Blueshift Asset Management LLC raised its stake in MGM Resorts International by 26.4% during the 4th quarter. Blueshift Asset Management LLC now owns 32,151 shares of the company’s stock worth $1,114,000 after acquiring an additional 6,715 shares during the period. Royal London Asset Management Ltd. lifted its stake in MGM Resorts International by 19.1% in the 4th quarter. Royal London Asset Management Ltd. now owns 114,666 shares of the company’s stock worth $3,973,000 after purchasing an additional 18,419 shares in the last quarter. American Assets Investment Management LLC lifted its position in shares of MGM Resorts International by 26.5% in the fourth quarter. American Assets Investment Management LLC now owns 31,565 shares of the company’s stock worth $1,094,000 after buying an additional 6,619 shares in the last quarter. Cibc World Markets Corp boosted its position in shares of MGM Resorts International by 13.2% during the 4th quarter. Cibc World Markets Corp now owns 35,770 shares of the company’s stock valued at $1,239,000 after acquiring an additional 4,184 shares during the last quarter. Finally, American Assets Capital Advisers LLC lifted its position in MGM Resorts International by 10.8% during the fourth quarter. American Assets Capital Advisers LLC now owns 520,334 shares of the company’s stock valued at $18,030,000 after purchasing an additional 50,782 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average price of $32.17 per share, for a total transaction 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. This trade represents a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Up 3.3 %

MGM opened at $32.45 on Tuesday. The company has a fifty day moving average of $34.02 and a two-hundred day moving average of $36.04. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.98 and a beta of 2.18. MGM Resorts International has a fifty-two week low of $29.99 and a fifty-two week 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.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share 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%. On average, research analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Stifel Nicolaus lifted their target price on MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Barclays reaffirmed an “equal weight” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th. Capital One Financial upped their target price on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Susquehanna Bancshares boosted their price target on MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.29.

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.