Toronto Dominion Bank Has $4.71 Million Stock Position in MGM Resorts International (NYSE:MGM)

Toronto Dominion Bank reduced its position in shares of MGM Resorts International (NYSE:MGM) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 120,475 shares of the company’s stock after selling 1,506 shares during the quarter. Toronto Dominion Bank’s holdings in MGM Resorts International were worth $4,709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of MGM. HG Vora Capital Management LLC acquired a new stake in shares of MGM Resorts International in the third quarter valued at about $97,725,000. Goldentree Asset Management LP grew its holdings in MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after buying an additional 1,390,599 shares during the last quarter. Marshall Wace LLP increased its position 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 worth $49,330,000 after buying an additional 706,159 shares during the period. LSV Asset Management acquired a new position in shares of MGM Resorts International during the second quarter worth approximately $21,149,000. Finally, Jacobs Levy Equity Management Inc. bought a new stake in MGM Resorts International in the 3rd quarter valued at $17,622,000. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Down 1.5 %

MGM stock opened at $36.25 on Friday. The business has a fifty day moving average of $38.37 and a 200-day moving average of $39.37. The company has a market cap of $10.79 billion, a P/E ratio of 12.95, a PEG ratio of 3.16 and a beta of 2.20. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. 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 (NYSE:MGM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 earnings per share. As a group, equities research analysts expect that MGM Resorts International will post 2.48 EPS for the current year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MGM. Deutsche Bank Aktiengesellschaft lowered their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Morgan Stanley upped their price target on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company lowered their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Mizuho dropped their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Truist Financial reduced their target price on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $52.54.

MGM Resorts International Company 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.