MGM Resorts International (NYSE:MGM – Get Free Report) Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the transaction, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
MGM Resorts International Stock Performance
Shares of MGM opened at $36.51 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.42 and a debt-to-equity ratio of 1.65. The stock has a market cap of $11.45 billion, a P/E ratio of 14.04, a PEG ratio of 0.64 and a beta of 2.22. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The company has a 50-day moving average of $39.67 and a two-hundred day moving average of $41.40.
MGM Resorts International (NYSE:MGM – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.20. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the firm earned $0.59 earnings per share. MGM Resorts International’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, research analysts predict that MGM Resorts International will post 2.68 EPS for the current fiscal year.
Institutional Investors Weigh In On MGM Resorts International
Analyst Ratings Changes
Several equities analysts recently commented on the stock. BTIG Research began coverage on shares of MGM Resorts International in a research note on Wednesday, July 3rd. They set a “buy” rating and a $52.00 price objective for the company. Macquarie reduced their price target on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company lowered their price objective on MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. JMP Securities reduced their target price on MGM Resorts International from $59.00 to $57.00 and set a “market outperform” rating for the company in a research report on Thursday, August 1st. Finally, Morgan Stanley decreased their target price on MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.93.
Check Out Our Latest Research Report on MGM Resorts International
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.
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