Insider Selling: MGM Resorts International (MGM) Director Sells 4,350 Shares of Stock

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.

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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.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Friday, March 9th will be paid a $0.12 dividend. This is an increase from MGM Resorts International’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Thursday, March 8th. MGM Resorts International’s dividend payout ratio (DPR) is 14.12%.

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.

Insider Buying and Selling by Quarter for MGM Resorts International (NYSE:MGM)

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