MGM Resorts International (NYSE:MGM) Director Alexis Herman sold 4,350 shares of the firm’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $36.63, for a total value of $159,340.50. Following the sale, the director now directly owns 3,935 shares in the company, valued at approximately $144,139.05. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
MGM Resorts International (MGM) traded down $0.98 during trading hours on Tuesday, reaching $35.79. The company had a trading volume of 6,645,671 shares, compared to its average volume of 8,298,392. The stock has a market cap of $20,836.66, a P/E ratio of 10.53, a PEG ratio of 1.76 and a beta of 1.45. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 1.09. MGM Resorts International has a 12-month low of $25.21 and a 12-month high of $38.41.
MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.51 billion. MGM Resorts International had a return on equity of 5.78% and a net margin of 17.92%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. equities research analysts predict that MGM Resorts International will post 1.39 EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the business. Cerebellum GP LLC purchased a new position in shares of MGM Resorts International in the 4th quarter valued at approximately $126,000. Sun Life Financial INC purchased a new position in shares of MGM Resorts International in the 3rd quarter valued at approximately $124,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of MGM Resorts International by 88.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,945 shares of the company’s stock valued at $165,000 after purchasing an additional 2,318 shares during the last quarter. Spirit of America Management Corp NY grew its stake in shares of MGM Resorts International by 78.1% in the 4th quarter. Spirit of America Management Corp NY now owns 5,700 shares of the company’s stock valued at $190,000 after purchasing an additional 2,500 shares during the last quarter. Finally, NuWave Investment Management LLC purchased a new position in shares of MGM Resorts International in the 4th quarter valued at approximately $197,000. Institutional investors own 82.52% of the company’s stock.
Several equities research analysts have recently weighed in on MGM shares. Jefferies Group started coverage on MGM Resorts International in a research report on Thursday, January 18th. They set a “buy” rating and a $43.00 target price on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and set a $44.00 target price (up previously from $41.00) on shares of MGM Resorts International in a research report on Tuesday, January 9th. Bank of America raised their target price on MGM Resorts International from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Zacks Investment Research lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $37.00 target price (up previously from $36.00) on shares of MGM Resorts International in a research report on Wednesday, February 21st. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $37.94.
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About MGM Resorts International
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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