MGM Resorts International (NYSE:MGM) Stock Position Raised by Cibc World Markets Corp

Cibc World Markets Corp raised its position in shares of MGM Resorts International (NYSE:MGM) by 13.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 35,770 shares of the company’s stock after acquiring an additional 4,184 shares during the period. Cibc World Markets Corp’s holdings in MGM Resorts International were worth $1,239,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Victory Capital Management Inc. grew its holdings in shares of MGM Resorts International by 4.3% during the 3rd quarter. Victory Capital Management Inc. now owns 114,385 shares of the company’s stock valued at $4,471,000 after acquiring an additional 4,745 shares in the last quarter. Empowered Funds LLC acquired a new position in MGM Resorts International in the 3rd quarter worth about $845,000. Quest Partners LLC purchased a new stake in shares of MGM Resorts International during the 3rd quarter worth about $76,000. Commerce Bank lifted its holdings in shares of 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 buying an additional 6,610 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of MGM Resorts International by 969.0% in the 3rd quarter. Larson Financial Group LLC now owns 2,758 shares of the company’s stock valued at $108,000 after buying an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were bought at an average cost 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 of the company’s stock, valued at $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 18,301 shares of the company’s stock, 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. Corporate insiders own 2.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on MGM shares. Mizuho lifted their target price on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Morgan Stanley lifted their price objective on shares of MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. Stifel Nicolaus increased their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Wedbush restated an “outperform” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Capital One Financial upped their price target on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $51.29.

MGM Resorts International Stock Down 3.4 %

NYSE MGM opened at $31.42 on Friday. MGM Resorts International has a twelve month low of $29.99 and a twelve month high of $48.25. The stock has a market cap of $8.97 billion, a PE ratio of 13.09, a PEG ratio of 0.98 and a beta of 2.18. The firm has a 50-day simple moving average of $34.02 and a 200 day simple moving average of $36.07. 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 announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS 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 forecast that MGM Resorts International will post 2.21 EPS for the current year.

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.