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 business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

MGM Resorts International Stock Performance

Shares of MGM opened at $36.25 on Friday. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24. The company has a 50-day simple moving average of $38.37 and a two-hundred day simple moving average of $39.37. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a market capitalization 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 released its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 earnings per share. On average, analysts anticipate that MGM Resorts International will post 2.48 EPS for the current fiscal year.

Institutional Trading of MGM Resorts International

Hedge funds and other institutional investors have recently modified their holdings of the business. HG Vora Capital Management LLC purchased a new position in shares of MGM Resorts International during the third quarter valued at approximately $97,725,000. Goldentree Asset Management LP increased its position in MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after buying an additional 1,390,599 shares in the last quarter. Marshall Wace LLP raised its stake in MGM Resorts International by 174.8% during the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after buying an additional 706,159 shares during the last quarter. LSV Asset Management bought a new stake in MGM Resorts International in the second quarter worth $21,149,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of MGM Resorts International in the third quarter worth $17,622,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MGM. UBS Group raised MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Morgan Stanley lifted their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. JMP Securities dropped their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a research report on Monday, November 25th. Barclays decreased their price objective on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $52.54.

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.