MGM Resorts International (NYSE:MGM) Director Sells $13,942,500.00 in Stock

MGM Resorts International (NYSE:MGMGet Free Report) Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, the director now directly owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

MGM Resorts International Stock Up 0.3 %

MGM opened at $42.88 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53. The stock has a market capitalization of $13.59 billion, a price-to-earnings ratio of 13.53, a price-to-earnings-growth ratio of 1.44 and a beta of 2.18. The business has a 50-day moving average of $43.32 and a two-hundred day moving average of $41.14. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $51.35.

MGM Resorts International (NYSE:MGMGet Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.67 by $0.39. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.14 billion. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The firm’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 EPS. On average, research analysts expect that MGM Resorts International will post 2.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MGM shares. JMP Securities restated a “market outperform” rating and issued a $57.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. Truist Financial restated a “buy” rating and issued a $55.00 price target on shares of MGM Resorts International in a research report on Tuesday, December 5th. TheStreet upgraded MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Macquarie restated an “outperform” rating and issued a $58.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. lifted their price objective on MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and an average target price of $54.90.

Read Our Latest Research Report on MGM Resorts International

Hedge Funds Weigh In On MGM Resorts International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Regatta Capital Group LLC boosted its position in MGM Resorts International by 1.8% during the 4th quarter. Regatta Capital Group LLC now owns 13,753 shares of the company’s stock worth $614,000 after acquiring an additional 247 shares during the period. Sandy Spring Bank boosted its position in MGM Resorts International by 33.7% during the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after acquiring an additional 288 shares during the period. Fifth Third Bancorp grew its stake in shares of MGM Resorts International by 2.4% in the 3rd quarter. Fifth Third Bancorp now owns 12,173 shares of the company’s stock worth $447,000 after purchasing an additional 289 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of MGM Resorts International by 3.1% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 9,587 shares of the company’s stock valued at $428,000 after acquiring an additional 292 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of MGM Resorts International by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 80,324 shares of the company’s stock valued at $2,953,000 after purchasing an additional 302 shares in the last quarter. 66.46% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for MGM Resorts International (NYSE:MGM)

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