MGM Resorts International (NYSE:MGM) Director William A. Bible sold 6,260 shares of the company’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $34.47, for a total transaction of $215,782.20. Following the completion of the sale, the director now owns 27,081 shares of the company’s stock, valued at approximately $933,482.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
MGM Resorts International (NYSE MGM) traded down $0.10 during trading on Wednesday, hitting $35.69. 4,640,000 shares of the stock were exchanged, compared to its average volume of 8,800,000. MGM Resorts International has a one year low of $25.21 and a one year high of $38.41. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.73 and a current ratio of 0.77. The firm has a market cap of $20,210.00, a P/E ratio of 38.38, a price-to-earnings-growth ratio of 1.75 and a beta of 1.45.
MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.04. MGM Resorts International had a net margin of 17.92% and a return on equity of 5.78%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the business posted $0.11 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. analysts expect that MGM Resorts International will post 1.39 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in MGM Resorts International by 19.9% in the 4th quarter. BlackRock Inc. now owns 35,609,163 shares of the company’s stock valued at $1,188,991,000 after purchasing an additional 5,897,782 shares during the last quarter. Maverick Capital Ltd. lifted its stake in MGM Resorts International by 26.4% in the 4th quarter. Maverick Capital Ltd. now owns 8,867,800 shares of the company’s stock valued at $296,096,000 after purchasing an additional 1,852,880 shares during the last quarter. Iridian Asset Management LLC CT lifted its stake in MGM Resorts International by 13.4% in the 3rd quarter. Iridian Asset Management LLC CT now owns 6,961,786 shares of the company’s stock valued at $226,885,000 after purchasing an additional 823,891 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in MGM Resorts International by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,610,995 shares of the company’s stock valued at $182,848,000 after purchasing an additional 221,406 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in MGM Resorts International by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 5,387,536 shares of the company’s stock valued at $179,521,000 after purchasing an additional 144,373 shares during the last quarter. Institutional investors own 82.52% of the company’s stock.
MGM has been the subject of a number of research reports. Bank of America increased their target price on MGM Resorts International from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Zacks Investment Research upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Monday, February 5th. Jefferies Group initiated coverage on MGM Resorts International in a report on Thursday, January 18th. They set a “buy” rating and a $43.00 target price for the company. Stifel Nicolaus reiterated a “hold” rating and set a $37.00 target price (up previously from $36.00) on shares of MGM Resorts International in a report on Wednesday, February 21st. Finally, Telsey Advisory Group initiated coverage on MGM Resorts International in a report on Wednesday. They set a “market perform” rating and a $39.00 target price for the company. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $37.94.
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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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