TD Private Client Wealth LLC Reduces Stock Position in MGM Resorts International (NYSE:MGM)

TD Private Client Wealth LLC cut its holdings in MGM Resorts International (NYSE:MGM) by 24.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,334 shares of the company’s stock after selling 2,708 shares during the quarter. TD Private Client Wealth LLC’s holdings in MGM Resorts International were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Quest Partners LLC purchased a new position in shares of MGM Resorts International during the third quarter valued at approximately $76,000. Commerce Bank increased its position in MGM Resorts International by 40.7% during the 3rd quarter. Commerce Bank now owns 22,864 shares of the company’s stock valued at $894,000 after purchasing an additional 6,610 shares during the period. Larson Financial Group LLC raised its holdings in MGM Resorts International by 969.0% in the 3rd quarter. Larson Financial Group LLC now owns 2,758 shares of the company’s stock worth $108,000 after purchasing an additional 2,500 shares in the last quarter. Centaurus Financial Inc. lifted its position in shares of MGM Resorts International by 50.3% in the 3rd quarter. Centaurus Financial Inc. now owns 3,733 shares of the company’s stock worth $146,000 after purchasing an additional 1,250 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in shares of MGM Resorts International by 1.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 28,466 shares of the company’s stock valued at $1,113,000 after purchasing an additional 459 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insider Transactions at MGM Resorts International

In other news, CFO Jonathan S. Halkyard bought 10,000 shares of the stock in a transaction on 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 completion of the acquisition, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. The trade was a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.13% of the company’s stock.

MGM Resorts International Price Performance

Shares of MGM opened at $32.45 on Tuesday. The company has a market capitalization of $9.27 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. MGM Resorts International has a twelve month low of $29.99 and a twelve month high of $48.25. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The firm has a 50 day moving average of $34.02 and a 200 day moving average of $36.04.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, equities research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MGM has been the subject of several research analyst reports. Susquehanna Bancshares raised their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Truist Financial dropped their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Barclays reissued an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.