Desjardins Global Asset Management Inc. Acquires 472 Shares of MGM Resorts International (NYSE:MGM)

Desjardins Global Asset Management Inc. lifted its stake in MGM Resorts International (NYSE:MGM) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,654 shares of the company’s stock after buying an additional 472 shares during the period. Desjardins Global Asset Management Inc.’s holdings in MGM Resorts International were worth $1,950,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. increased its position in shares of MGM Resorts International by 17.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 21,276,150 shares of the company’s stock worth $713,390,000 after purchasing an additional 3,098,142 shares during the period. Davis Selected Advisers bought a new position in MGM Resorts International in the 3rd quarter valued at about $361,915,000. Morgan Stanley lifted its holdings in shares of MGM Resorts International by 12.8% during the 4th quarter. Morgan Stanley now owns 6,717,202 shares of the company’s stock worth $225,228,000 after acquiring an additional 764,699 shares during the period. Geode Capital Management LLC lifted its stake in MGM Resorts International by 0.9% during the first quarter. Geode Capital Management LLC now owns 6,484,714 shares of the company’s stock worth $287,398,000 after purchasing an additional 60,969 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of MGM Resorts International during the 4th quarter worth $165,932,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Down 0.4 %

Shares of NYSE:MGM opened at $42.69 on Wednesday. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $51.35. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53. The business’s 50-day moving average is $44.13 and its 200-day moving average is $41.86. The company has a market capitalization of $13.53 billion, a price-to-earnings ratio of 13.47, a P/E/G ratio of 1.85 and a beta of 2.19.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.39. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.14 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The company’s revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 earnings per share. Equities research analysts predict that MGM Resorts International will post 2.5 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, the director now directly owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.83% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on MGM. Deutsche Bank Aktiengesellschaft boosted their target price on shares of MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Mizuho started coverage on MGM Resorts International in a research report on Tuesday, March 26th. They issued a “buy” rating and a $61.00 target price for the company. StockNews.com cut MGM Resorts International from a “buy” rating to a “hold” rating in a report on Monday, March 4th. JMP Securities reiterated a “market outperform” rating and issued a $57.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.34.

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.