MGM Resorts International (NYSE:MGM)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $23.12, but opened at $23.32. MGM Resorts International shares last traded at $23.89, with a volume of 4,692,112 shares changing hands.

MGM has been the subject of several analyst reports. Sterne Agee CRT reaffirmed a “buy” rating and issued a $28.00 price objective on shares of MGM Resorts International in a report on Sunday, April 10th. Citigroup Inc. lifted their price objective on MGM Resorts International from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, April 13th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of MGM Resorts International in a report on Thursday, April 14th. HSBC reaffirmed a “buy” rating on shares of MGM Resorts International in a report on Thursday, April 21st. Finally, Nomura Holdings Inc. reaffirmed a “buy” rating and issued a $28.00 price objective on shares of MGM Resorts International in a report on Thursday, May 5th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of C$27.94.

The company’s market cap is $13.57 billion. The company’s 50 day moving average price is $23.55 and its 200-day moving average price is $21.50.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Thursday, May 5th. The company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. During the same quarter in the prior year, the company earned $0.26 earnings per share. The company earned $2.21 billion during the quarter, compared to the consensus estimate of $2.28 billion. MGM Resorts International’s revenue was down 5.2% on a year-over-year basis. Equities research analysts expect that MGM Resorts International will post $0.72 earnings per share for the current fiscal year.

In other news, President William Hornbuckle sold 30,354 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of C$21.51, for a total transaction of C$652,914.54. Following the transaction, the president now directly owns 176,307 shares in the company, valued at C$3,792,363.57. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mary Christine Gay sold 5,300 shares of the stock in a transaction that occurred on Tuesday, June 14th. The shares were sold at an average price of C$23.89, for a total transaction of C$126,617.00. Following the transaction, the director now owns 11,959 shares in the company, valued at C$285,700.51. The disclosure for this sale can be found here.

Several institutional investors have added to or reduced their stakes in MGM. Jennison Associates increased its position in MGM Resorts International by 14.5% in the third quarter. Jennison Associates now owns 2,135,411 shares of the company’s stock worth $39,398,000 after buying an additional 270,654 shares in the last quarter. Creative Planning increased its position in MGM Resorts International by 74.9% in the fourth quarter. Creative Planning now owns 93,709 shares of the company’s stock worth $2,129,000 after buying an additional 40,120 shares in the last quarter. Russell Frank Co increased its position in MGM Resorts International by 11.9% in the fourth quarter. Russell Frank Co now owns 191,477 shares of the company’s stock worth $4,312,000 after buying an additional 20,434 shares in the last quarter. New York State Common Retirement Fund increased its position in MGM Resorts International by 0.8% in the fourth quarter. New York State Common Retirement Fund now owns 1,030,000 shares of the company’s stock worth $23,402,000 after buying an additional 8,500 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in MGM Resorts International by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 31,278,874 shares of the company’s stock worth $710,656,000 after buying an additional 1,046,253 shares in the last quarter.

MGM Resorts International is a holding company. Through its wholly owned subsidiaries, the Company owns and operates casino resorts. The Company operates in two segments: wholly owned domestic resorts and MGM China. The wholly owned domestic resorts segment includes non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.

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