Mackenzie Financial Corp Sells 4,897 Shares of MGM Resorts International (NYSE:MGM)

Mackenzie Financial Corp trimmed its stake in MGM Resorts International (NYSE:MGM) by 17.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,752 shares of the company’s stock after selling 4,897 shares during the period. Mackenzie Financial Corp’s holdings in MGM Resorts International were worth $1,017,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. CVA Family Office LLC bought a new stake in MGM Resorts International in the fourth quarter valued at $28,000. Sandy Spring Bank grew its holdings in shares of MGM Resorts International by 140.8% during the third quarter. Sandy Spring Bank now owns 855 shares of the company’s stock worth $31,000 after purchasing an additional 500 shares during the last quarter. Park Place Capital Corp grew its holdings in shares of MGM Resorts International by 618.1% during the third quarter. Park Place Capital Corp now owns 991 shares of the company’s stock worth $36,000 after purchasing an additional 853 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of MGM Resorts International by 49.7% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock worth $49,000 after purchasing an additional 367 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in shares of MGM Resorts International by 510.2% during the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after purchasing an additional 1,000 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the transaction, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.13% of the company’s stock.

MGM Resorts International Price Performance

Shares of MGM opened at $42.18 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $51.35. The stock has a market cap of $13.37 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 1.76 and a beta of 2.19. The stock’s 50-day moving average price is $43.76 and its two-hundred day moving average price is $42.09.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.39. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The firm had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter last year, the business earned $0.69 earnings per share. The company’s revenue was up 21.8% compared to the same quarter last year. On average, equities analysts predict that MGM Resorts International will post 2.46 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on MGM. Mizuho began coverage on MGM Resorts International in a report on Tuesday, March 26th. They set a “buy” rating and a $61.00 target price on the stock. StockNews.com cut MGM Resorts International from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Bank Of America (Bofa) increased their target price on MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Morgan Stanley raised their price target on MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.34.

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.