MGM Resorts International (NYSE:MGM) Director Sells $178,190.88 in Stock

MGM Resorts International (NYSE:MGM) Director Daniel J. Taylor sold 4,344 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $41.02, for a total value of $178,190.88. Following the completion of the transaction, the director now owns 5,250 shares in the company, valued at $215,355. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

MGM Resorts International Stock Performance

MGM stock opened at $38.93 on Friday. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35. The firm has a market cap of $12.21 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 0.89 and a beta of 2.22. The stock has a 50-day moving average price of $43.04 and a 200-day moving average price of $42.73. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS. As a group, equities research analysts expect that MGM Resorts International will post 2.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MGM. Susquehanna raised MGM Resorts International from a “neutral” rating to a “positive” rating and raised their price objective for the stock from $46.00 to $54.00 in a research note on Thursday, May 2nd. StockNews.com downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Macquarie reiterated an “outperform” rating and set a $58.00 target price on shares of MGM Resorts International in a research note on Wednesday, February 14th. Bank Of America (Bofa) boosted their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Finally, TheStreet raised MGM Resorts International from a “c+” rating to a “b-” rating in a research note on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $54.83.

Hedge Funds Weigh In On MGM Resorts International

Institutional investors have recently bought and sold shares of the company. CVA Family Office LLC purchased a new stake in shares of MGM Resorts International during the fourth quarter worth $28,000. Accent Capital Management LLC bought a new position in shares of MGM Resorts International in the fourth quarter worth $45,000. Mendota Financial Group LLC increased its holdings in shares of MGM Resorts International by 36.0% in the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after purchasing an additional 266 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in shares of MGM Resorts International by 49.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock worth $49,000 after purchasing an additional 367 shares during the period. Finally, Sandy Spring Bank increased its holdings in shares of MGM Resorts International by 33.7% in the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after purchasing an additional 288 shares during the period. 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.