Insider Selling: MGM Resorts International (NYSE:MGM) Director Sells 51,000 Shares of Stock

MGM Resorts International (NYSE:MGM) Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

MGM Resorts International Stock Down 1.5 %

MGM Resorts International stock traded down $0.55 during trading hours on Friday, hitting $36.25. The company had a trading volume of 2,843,070 shares, compared to its average volume of 4,063,788. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. 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 P/E ratio of 12.99, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20. The firm’s fifty day moving average is $38.45 and its 200-day moving average is $39.39.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the company posted $0.64 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. On average, research analysts forecast that MGM Resorts International will post 2.48 earnings per share for the current year.

Institutional Investors Weigh In On MGM Resorts International

Several large investors have recently made changes to their positions in the company. Fisher Asset Management LLC increased its holdings in shares of MGM Resorts International by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after acquiring an additional 90,645 shares during the last quarter. Goldentree Asset Management LP grew its holdings in MGM Resorts International by 86.4% during the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares during the last quarter. HG Vora Capital Management LLC bought a new position in shares of MGM Resorts International in the third quarter valued at approximately $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of MGM Resorts International by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock worth $89,832,000 after buying an additional 123,124 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of MGM Resorts International by 5.0% during the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company’s stock worth $65,738,000 after buying an additional 79,486 shares during the period. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MGM shares. Wells Fargo & Company reduced their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Morgan Stanley raised their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. UBS Group raised shares of MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. JMP Securities decreased their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a report on Monday, November 25th. Finally, Mizuho cut their target price on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.