MGM Resorts International (NYSE:MGM) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 25,702 call options on the company. This is an increase of approximately 271% compared to the typical daily volume of 6,934 call options.
In other MGM Resorts International news, EVP Robert Selwood sold 10,046 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $31.56, for a total transaction of $317,051.76. Following the completion of the sale, the executive vice president now directly owns 116,743 shares in the company, valued at approximately $3,684,409.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Corey Ian Sanders sold 21,441 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $31.60, for a total value of $677,535.60. Following the sale, the chief operating officer now owns 210,558 shares of the company’s stock, valued at $6,653,632.80. The disclosure for this sale can be found here. Insiders sold a total of 105,501 shares of company stock worth $3,417,518 in the last three months. 12.20% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in MGM. IFP Advisors Inc boosted its stake in MGM Resorts International by 0.7% in the first quarter. IFP Advisors Inc now owns 4,558 shares of the company’s stock worth $125,000 after buying an additional 31 shares during the last quarter. World Asset Management Inc boosted its stake in MGM Resorts International by 0.5% in the second quarter. World Asset Management Inc now owns 19,646 shares of the company’s stock worth $615,000 after buying an additional 91 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in MGM Resorts International by 0.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 34,213 shares of the company’s stock worth $937,000 after buying an additional 140 shares during the last quarter. Calamos Wealth Management LLC boosted its stake in MGM Resorts International by 0.5% in the second quarter. Calamos Wealth Management LLC now owns 52,540 shares of the company’s stock worth $1,644,000 after buying an additional 257 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in MGM Resorts International by 3.4% in the first quarter. Pacer Advisors Inc. now owns 9,269 shares of the company’s stock valued at $254,000 after buying an additional 302 shares during the last quarter. 73.49% of the stock is owned by institutional investors.
Shares of MGM Resorts International (NYSE MGM) traded down 0.19% on Wednesday, reaching $31.49. The company’s stock had a trading volume of 6,862,557 shares. The company’s 50 day moving average is $32.57 and its 200-day moving average is $29.85. MGM Resorts International has a 1-year low of $23.38 and a 1-year high of $34.53. The firm has a market cap of $18.11 billion, a price-to-earnings ratio of 18.63 and a beta of 1.48.
MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.28 by $0.03. MGM Resorts International had a return on equity of 13.11% and a net margin of 9.15%. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the prior year, the firm posted $0.29 earnings per share. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. Equities research analysts expect that MGM Resorts International will post $1.24 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Monday, September 11th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.40%. MGM Resorts International’s payout ratio is 26.04%.
A number of brokerages have commented on MGM. UBS AG restated a “buy” rating on shares of MGM Resorts International in a research report on Tuesday, April 11th. BidaskClub lowered MGM Resorts International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered MGM Resorts International from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. CLSA reiterated an “outperform” rating on shares of MGM Resorts International in a report on Friday, April 28th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $36.00 price target (up from $34.00) on shares of MGM Resorts International in a report on Sunday, July 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $34.59.
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MGM Resorts International Company Profile
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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