MGM Resorts International (NYSE:MGM) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its position in shares of MGM Resorts International (NYSE:MGMGet Rating) by 17.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 32,313 shares of the company’s stock after acquiring an additional 4,704 shares during the quarter. Mackenzie Financial Corp’s holdings in MGM Resorts International were worth $935,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its position in shares of MGM Resorts International by 12,609.0% in the 2nd quarter. National Bank of Canada FI now owns 826,977 shares of the company’s stock worth $23,940,000 after buying an additional 820,470 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in MGM Resorts International by 18.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,098,554 shares of the company’s stock valued at $171,893,000 after acquiring an additional 639,019 shares during the period. Eagle Asset Management Inc. raised its position in shares of MGM Resorts International by 116.1% during the 2nd quarter. Eagle Asset Management Inc. now owns 1,173,980 shares of the company’s stock worth $33,986,000 after purchasing an additional 630,677 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of MGM Resorts International in the 1st quarter worth approximately $24,419,000. Finally, New York State Common Retirement Fund boosted its position in MGM Resorts International by 82.9% during the 1st quarter. New York State Common Retirement Fund now owns 1,001,097 shares of the company’s stock valued at $41,986,000 after purchasing an additional 453,872 shares during the period. 67.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Rose Mckinney-James sold 5,741 shares of the company’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $37.50, for a total value of $215,287.50. Following the transaction, the director now owns 5,740 shares in the company, valued at approximately $215,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Corey Ian Sanders sold 20,000 shares of MGM Resorts International stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $38.00, for a total transaction of $760,000.00. Following the completion of the sale, the chief operating officer now owns 311,498 shares of the company’s stock, valued at $11,836,924. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Rose Mckinney-James sold 5,741 shares of MGM Resorts International stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $37.50, for a total transaction of $215,287.50. Following the completion of the transaction, the director now directly owns 5,740 shares in the company, valued at approximately $215,250. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,741 shares of company stock worth $1,337,388. 2.13% of the stock is currently owned by company insiders.

MGM Resorts International Price Performance

Shares of NYSE:MGM opened at $35.88 on Thursday. The company’s fifty day moving average is $33.46 and its two-hundred day moving average is $32.86. The company has a market cap of $13.78 billion, a P/E ratio of 12.29 and a beta of 2.06. MGM Resorts International has a 12-month low of $26.41 and a 12-month high of $49.00. The company has a quick ratio of 1.47, a current ratio of 1.49 and a debt-to-equity ratio of 1.24.

MGM Resorts International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, December 9th will be paid a $0.0025 dividend. This represents a $0.01 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 8th. MGM Resorts International’s dividend payout ratio is currently 0.34%.

Analysts Set New Price Targets

MGM has been the topic of several analyst reports. Morgan Stanley assumed coverage on MGM Resorts International in a research report on Monday. They issued an “equal weight” rating and a $39.00 target price on the stock. Credit Suisse Group cut their price objective on shares of MGM Resorts International from $72.00 to $67.00 and set an “outperform” rating on the stock in a research report on Thursday, November 3rd. Citigroup boosted their price objective on MGM Resorts International from $58.00 to $58.50 and gave the stock a “buy” rating in a research report on Monday, September 26th. Truist Financial upped their price objective on shares of MGM Resorts International from $35.00 to $40.00 in a report on Thursday, August 4th. Finally, StockNews.com began coverage on shares of MGM Resorts International in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $51.03.

About MGM Resorts International

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MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. 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.

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Institutional Ownership by Quarter for MGM Resorts International (NYSE:MGM)

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