MGM Resorts International (NYSE:MGM) Director Sells $4,443,120.00 in Stock

MGM Resorts International (NYSE:MGM) Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

MGM Resorts International Stock Performance

NYSE MGM opened at $36.51 on Monday. The stock has a market capitalization of $11.45 billion, a PE ratio of 14.04, a P/E/G ratio of 0.64 and a beta of 2.22. The business has a 50 day simple moving average of $39.67 and a two-hundred day simple moving average of $41.39. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.42. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.20. The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. On average, research analysts predict that MGM Resorts International will post 2.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MGM shares. Susquehanna upped their price target on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Stifel Nicolaus upped their price target on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Macquarie dropped their price objective on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company dropped their price objective on MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Finally, JMP Securities dropped their price objective on MGM Resorts International from $59.00 to $57.00 and set a “market outperform” rating for the company in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, MGM Resorts International has a consensus rating of “Moderate Buy” and an average target price of $53.93.

Hedge Funds Weigh In On MGM Resorts International

A number of institutional investors and hedge funds have recently modified their holdings of the stock. UMB Bank n.a. boosted its holdings in shares of MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after purchasing an additional 237 shares during the period. Texas Permanent School Fund Corp boosted its holdings in shares of MGM Resorts International by 0.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock worth $2,667,000 after purchasing an additional 245 shares during the period. Mendota Financial Group LLC boosted its holdings in shares of MGM Resorts International by 36.0% in the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after purchasing an additional 266 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of MGM Resorts International by 8.2% in the 1st quarter. Lindbrook Capital LLC now owns 3,550 shares of the company’s stock worth $168,000 after purchasing an additional 268 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of MGM Resorts International by 1.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock worth $1,018,000 after purchasing an additional 278 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

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.