MGM Resorts International (NYSE:MGM) CAO Sells $227,040.00 in Stock

MGM Resorts International (NYSE:MGM) CAO Todd Meinert sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the transaction, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

MGM Resorts International Trading Down 0.1 %

Shares of MGM stock opened at $38.32 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The business has a 50-day moving average price of $34.54 and a two-hundred day moving average price of $36.79. MGM Resorts International has a 12-month low of $31.61 and a 12-month high of $48.24. The firm has a market cap of $10.94 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 0.98 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. Equities analysts anticipate that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Institutional Trading of MGM Resorts International

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning lifted its holdings in shares of MGM Resorts International by 8.4% during the 3rd quarter. Creative Planning now owns 77,682 shares of the company’s stock valued at $3,037,000 after buying an additional 6,040 shares during the period. Blue Trust Inc. boosted its stake in MGM Resorts International by 120.6% in the 3rd quarter. Blue Trust Inc. now owns 1,348 shares of the company’s stock worth $53,000 after purchasing an additional 737 shares during the period. Raymond James & Associates raised its position in shares of MGM Resorts International by 22.6% during the third quarter. Raymond James & Associates now owns 468,269 shares of the company’s stock valued at $18,305,000 after buying an additional 86,370 shares during the last quarter. Raleigh Capital Management Inc. raised its position in shares of MGM Resorts International by 105.7% during the third quarter. Raleigh Capital Management Inc. now owns 1,911 shares of the company’s stock valued at $75,000 after buying an additional 982 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of MGM Resorts International by 749.6% during the third quarter. Sequoia Financial Advisors LLC now owns 50,424 shares of the company’s stock valued at $1,971,000 after buying an additional 44,489 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

MGM has been the topic of several recent research reports. Capital One Financial increased their price target on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Susquehanna Bancshares increased their price target on MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. BTIG Research lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. JMP Securities restated a “market outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Mizuho raised their target price on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $51.47.

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.