MGM Resorts International (NYSE:MGM) CAO Sells $227,040.00 in Stock

MGM Resorts International (NYSE:MGM) CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

MGM Resorts International Stock Down 6.0 %

MGM stock opened at $36.02 on Friday. The stock has a market capitalization of $10.28 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 0.98 and a beta of 2.20. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24. The firm has a 50-day moving average price of $34.53 and a 200-day moving average price of $36.81.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, equities research analysts anticipate that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on MGM shares. Susquehanna Bancshares upped their price target on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Macquarie restated an “outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, February 13th. Morgan Stanley restated an “outperform” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Barclays restated an “equal weight” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Leerink Partners downgraded shares of MGM Resorts International to a “market perform” rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.47.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. raised its holdings in MGM Resorts International by 8.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,190 shares of the company’s stock valued at $111,000 after buying an additional 261 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in MGM Resorts International by 0.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after buying an additional 309 shares during the last quarter. Ballentine Partners LLC raised its holdings in MGM Resorts International by 5.4% in the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock valued at $227,000 after buying an additional 333 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in MGM Resorts International by 1.7% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock valued at $684,000 after buying an additional 333 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after buying an additional 404 shares during the last quarter. 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.