MGM Resorts International (NYSE:MGM) Director Mary Christine Gay sold 5,200 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $29.20, for a total value of $151,840.00. Following the transaction, the director now owns 17,716 shares in the company, valued at approximately $517,307.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
NYSE MGM traded down $0.10 during trading on Friday, hitting $29.07. The company’s stock had a trading volume of 4,672,800 shares, compared to its average volume of 6,650,151. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.73 and a quick ratio of 0.69. The company has a market cap of $15.38 billion, a PE ratio of 29.36, a P/E/G ratio of 4.24 and a beta of 1.49. The business’s 50 day simple moving average is $28.63 and its 200-day simple moving average is $27.44. MGM Resorts International has a fifty-two week low of $21.61 and a fifty-two week high of $31.68.
MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.21 billion. MGM Resorts International had a return on equity of 3.77% and a net margin of 1.56%. MGM Resorts International’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 EPS. Analysts expect that MGM Resorts International will post 0.85 EPS for the current fiscal year.
Several brokerages have recently commented on MGM. UBS Group raised their price target on MGM Resorts International from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, August 21st. Nomura raised their price objective on MGM Resorts International from $36.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Argus raised their price objective on MGM Resorts International to $35.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Citigroup assumed coverage on MGM Resorts International in a research report on Wednesday, July 24th. They set a $23.00 price objective on the stock. Finally, Bank of America downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.91.
Hedge funds and other institutional investors have recently modified their holdings of the business. Patriot Financial Group Insurance Agency LLC boosted its holdings in MGM Resorts International by 3,000.0% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 930 shares of the company’s stock worth $27,000 after acquiring an additional 900 shares in the last quarter. Rational Advisors LLC boosted its holdings in MGM Resorts International by 1,113.8% in the first quarter. Rational Advisors LLC now owns 1,323 shares of the company’s stock worth $34,000 after acquiring an additional 1,214 shares in the last quarter. Thor Advisors LLC acquired a new stake in MGM Resorts International in the first quarter worth about $35,000. Trust Co. of Vermont acquired a new stake in MGM Resorts International in the second quarter worth about $43,000. Finally, Valeo Financial Advisors LLC boosted its holdings in MGM Resorts International by 407.7% in the second quarter. Valeo Financial Advisors LLC now owns 1,523 shares of the company’s stock worth $44,000 after acquiring an additional 1,223 shares in the last quarter. 82.57% of the stock is owned by institutional investors and hedge funds.
About MGM Resorts International
MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau. 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.
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