Desjardins Global Asset Management Inc. Has $1.95 Million Stake in MGM Resorts International (NYSE:MGM)

Desjardins Global Asset Management Inc. raised its position in shares of MGM Resorts International (NYSE:MGM) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,654 shares of the company’s stock after purchasing an additional 472 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in MGM Resorts International were worth $1,950,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MGM. Regatta Capital Group LLC boosted its position in MGM Resorts International by 1.8% during the fourth quarter. Regatta Capital Group LLC now owns 13,753 shares of the company’s stock worth $614,000 after purchasing an additional 247 shares during the period. Sandy Spring Bank grew its stake in MGM Resorts International by 33.7% in the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock valued at $51,000 after buying an additional 288 shares during the last quarter. Fifth Third Bancorp raised its holdings in MGM Resorts International by 2.4% in the 3rd quarter. Fifth Third Bancorp now owns 12,173 shares of the company’s stock worth $447,000 after acquiring an additional 289 shares during the period. Kingswood Wealth Advisors LLC lifted its position in MGM Resorts International by 3.1% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 9,587 shares of the company’s stock worth $428,000 after acquiring an additional 292 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in MGM Resorts International by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 80,324 shares of the company’s stock valued at $2,953,000 after acquiring an additional 302 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

Shares of NYSE:MGM opened at $42.69 on Wednesday. The stock has a market capitalization of $13.53 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 1.85 and a beta of 2.19. 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 fifty day moving average price is $44.13 and its two-hundred day moving average price is $41.86. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $51.35.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.39. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The company’s revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the business posted $0.69 earnings per share. As a group, analysts predict that MGM Resorts International will post 2.5 EPS for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.83% of the company’s stock.

Wall Street Analyst Weigh In

MGM has been the subject of several research analyst reports. Bank Of America (Bofa) boosted their price objective on MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Macquarie reissued an “outperform” rating and issued a $58.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. StockNews.com lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. TheStreet raised shares of MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Finally, Barclays reduced their target price on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.