Bank of Nova Scotia trimmed its stake in shares of MGM Resorts International (NYSE:MGM) by 77.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,514 shares of the company’s stock after selling 189,586 shares during the period. Bank of Nova Scotia’s holdings in MGM Resorts International were worth $1,612,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. lifted its holdings in MGM Resorts International by 13.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 53,964 shares of the company’s stock valued at $1,567,000 after purchasing an additional 6,435 shares in the last quarter. Toronto Dominion Bank lifted its holdings in MGM Resorts International by 45.4% during the second quarter. Toronto Dominion Bank now owns 569,209 shares of the company’s stock valued at $17,416,000 after purchasing an additional 177,830 shares in the last quarter. Stephens Investment Management Group LLC lifted its holdings in MGM Resorts International by 12.3% during the second quarter. Stephens Investment Management Group LLC now owns 102,618 shares of the company’s stock valued at $2,912,000 after purchasing an additional 11,227 shares in the last quarter. Sei Investments Co. lifted its holdings in MGM Resorts International by 69.4% during the second quarter. Sei Investments Co. now owns 375,400 shares of the company’s stock valued at $10,898,000 after purchasing an additional 153,825 shares in the last quarter. Finally, Oxbow Advisors LLC lifted its holdings in MGM Resorts International by 13.2% during the second quarter. Oxbow Advisors LLC now owns 32,813 shares of the company’s stock valued at $953,000 after purchasing an additional 3,830 shares in the last quarter. 79.75% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Alexis Herman sold 3,500 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $28.85, for a total transaction of $100,975.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel D’arrigo sold 29,377 shares of the firm’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $29.23, for a total transaction of $858,689.71. Following the sale, the chief financial officer now owns 260,676 shares of the company’s stock, valued at $7,619,559.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,627 shares of company stock valued at $1,009,155. 12.20% of the stock is owned by company insiders.

Several equities analysts have issued reports on MGM shares. Goldman Sachs Group downgraded shares of MGM Resorts International from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Monday, June 25th. Morgan Stanley increased their target price on shares of MGM Resorts International from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, June 26th. Zacks Investment Research upgraded shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 26th. ValuEngine cut shares of MGM Resorts International from a “hold” rating to a “sell” rating in a research report on Wednesday, July 4th. Finally, Nomura reduced their target price on shares of MGM Resorts International from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Monday, July 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. MGM Resorts International currently has a consensus rating of “Buy” and an average target price of $37.14.

Shares of NYSE MGM opened at $27.72 on Friday. The stock has a market capitalization of $14.99 billion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 3.58 and a beta of 1.44. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 1.25. MGM Resorts International has a 52 week low of $26.31 and a 52 week high of $38.41.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Thursday, August 2nd. The company reported $0.26 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.26. The business had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.97 billion. MGM Resorts International had a net margin of 17.11% and a return on equity of 5.07%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 earnings per share. equities research analysts predict that MGM Resorts International will post 1.16 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Monday, September 10th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Friday, September 7th. MGM Resorts International’s payout ratio is currently 47.06%.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

Read More: Understanding Price to Earnings Ratio (PE)

Want to see what other hedge funds are holding MGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGM Resorts International (NYSE:MGM).

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

Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with MarketBeat.com's FREE daily email newsletter.