MGM Resorts International (NYSE:MGM) Director Sells $1,865,070.00 in Stock

MGM Resorts International (NYSE:MGM) Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

MGM Resorts International Trading Down 1.5 %

Shares of NYSE MGM opened at $36.25 on Friday. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a 50-day moving average of $38.37 and a 200 day moving average of $39.36. The stock has a market cap of $10.79 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). The business had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. MGM Resorts International’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. As a group, sell-side analysts expect that MGM Resorts International will post 2.48 EPS for the current fiscal year.

Hedge Funds Weigh In On MGM Resorts International

Several institutional investors and hedge funds have recently modified their holdings of MGM. International Assets Investment Management LLC purchased a new position in MGM Resorts International in the 2nd quarter worth approximately $28,000. MidAtlantic Capital Management Inc. purchased a new position in shares of MGM Resorts International in the third quarter worth $28,000. Eastern Bank bought a new position in shares of MGM Resorts International during the third quarter valued at $35,000. UMB Bank n.a. boosted its position in shares of MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in MGM Resorts International in the 3rd quarter worth about $44,000. 68.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on MGM. Wells Fargo & Company lowered their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Truist Financial lowered their price objective on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. UBS Group raised shares of MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Mizuho dropped their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $52.54.

MGM Resorts International Company 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.