Mackenzie Financial Corp Has $1.02 Million Stock Holdings in MGM Resorts International (NYSE:MGM)

Mackenzie Financial Corp decreased its stake in MGM Resorts International (NYSE:MGM) by 17.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 22,752 shares of the company’s stock after selling 4,897 shares during the period. Mackenzie Financial Corp’s holdings in MGM Resorts International were worth $1,017,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MGM. Regatta Capital Group LLC grew its stake 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% during the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after purchasing an additional 288 shares during the period. Fifth Third Bancorp grew its stake in MGM Resorts International by 2.4% during the third quarter. Fifth Third Bancorp now owns 12,173 shares of the company’s stock worth $447,000 after purchasing an additional 289 shares during the period. Kingswood Wealth Advisors LLC grew its stake in MGM Resorts International by 3.1% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 9,587 shares of the company’s stock worth $428,000 after purchasing an additional 292 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its stake 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 worth $2,953,000 after purchasing an additional 302 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Down 1.2 %

MGM stock opened at $42.18 on Friday. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46. The stock’s 50 day moving average is $43.76 and its 200-day moving average is $42.09. The firm has a market capitalization of $13.37 billion, a PE ratio of 13.31, a P/E/G ratio of 1.76 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 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.39. The company had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.14 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. MGM Resorts International’s revenue was up 21.8% on a year-over-year basis. During the same period last year, the business posted $0.69 earnings per share. Sell-side analysts expect that MGM Resorts International will post 2.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MGM has been the subject of several recent analyst reports. Macquarie reaffirmed an “outperform” rating and set a $58.00 target price on shares of MGM Resorts International in a research note on Wednesday, February 14th. TheStreet upgraded MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Bank Of America (Bofa) increased their price target on MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft increased their price target on MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, Mizuho started coverage on MGM Resorts International in a report on Tuesday, March 26th. They issued a “buy” rating and a $61.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.34.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the sale, the director now directly owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.13% of the stock is currently owned by company insiders.

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.