MGM Resorts International (NYSE:MGM) Director Keith A. Meister Sells 51,000 Shares

MGM Resorts International (NYSE:MGM) Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

MGM Resorts International Price Performance

NYSE MGM opened at $36.25 on Friday. The firm’s 50-day simple moving average is $38.37 and its two-hundred day simple moving average is $39.36. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The company has a market cap of $10.79 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the firm earned $0.64 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. Research analysts predict that MGM Resorts International will post 2.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on MGM shares. Mizuho decreased their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. JMP Securities decreased their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a research note on Monday, November 25th. Wells Fargo & Company cut their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Finally, Truist Financial decreased their price target on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, MGM Resorts International has an average rating of “Moderate Buy” and a consensus target price of $52.54.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MGM. Envestnet Portfolio Solutions Inc. boosted its position in shares of MGM Resorts International by 1.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock valued at $1,018,000 after acquiring an additional 278 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in shares of MGM Resorts International in the 2nd quarter worth $3,314,000. Fifth Third Bancorp raised its position in shares of MGM Resorts International by 3.6% during the 2nd quarter. Fifth Third Bancorp now owns 14,975 shares of the company’s stock valued at $665,000 after buying an additional 525 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of MGM Resorts International during the 2nd quarter worth $447,000. Finally, &PARTNERS grew its position in MGM Resorts International by 145.3% in the second quarter. &PARTNERS now owns 20,213 shares of the company’s stock worth $898,000 after acquiring an additional 11,972 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. 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.