MGM Resorts International (NYSE:MGM – Get Free Report) Director Keith Meister acquired 7,518 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was acquired at an average price of $30.24 per share, for a total transaction of $227,344.32. Following the completion of the acquisition, the director directly owned 7,093,570 shares of the company’s stock, valued at $214,509,556.80. The trade was a 0.11% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
MGM Resorts International Price Performance
MGM stock opened at $31.03 on Wednesday. The business has a fifty day moving average of $34.27 and a two-hundred day moving average of $38.97. The company has a quick ratio of 1.20, a current ratio of 1.24 and a debt-to-equity ratio of 1.68. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.82 and a beta of 1.34. MGM Resorts International has a 52-week low of $26.71 and a 52-week high of $51.59.
MGM Resorts International (NYSE:MGM – Get Free Report) last posted its earnings results on Wednesday, October 28th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.15). MGM Resorts International had a net margin of 3.92% and a return on equity of 20.58%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the firm earned $0.24 EPS. MGM Resorts International’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, research analysts anticipate that MGM Resorts International will post 1.68 earnings per share for the current year.
Institutional Investors Weigh In On MGM Resorts International
Institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of MGM Resorts International during the first quarter worth about $30,000. Latitude Advisors LLC acquired a new stake in MGM Resorts International in the third quarter valued at approximately $27,000. Optiver Holding B.V. acquired a new stake in MGM Resorts International in the first quarter valued at approximately $35,000. Fiduciary Financial Advisors purchased a new position in MGM Resorts International in the second quarter worth approximately $48,000. Finally, Global Retirement Partners LLC purchased a new position in MGM Resorts International in the second quarter worth approximately $53,000. 68.11% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have commented on MGM. UBS Group decreased their target price on shares of MGM Resorts International from $50.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, September 11th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $26.00 target price on shares of MGM Resorts International in a research note on Thursday, October 29th. Zacks Research cut shares of MGM Resorts International from a “hold” rating to a “strong sell” rating in a research report on Friday, October 2nd. Mizuho set a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, October 29th. Finally, Wall Street Zen lowered shares of MGM Resorts International from a “hold” rating to a “sell” rating in a report on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, MGM Resorts International presently has an average rating of “Hold” and a consensus price target of $45.18.
View Our Latest Stock Report on MGM
MGM Resorts International Company Profile
MGM Resorts International is a global hospitality and entertainment company that develops, owns, and operates destination resorts featuring casinos, hotels, restaurants, entertainment venues, convention facilities, retail spaces, and nightlife offerings. Its portfolio includes well-known properties such as MGM Grand, Bellagio, ARIA, Mandalay Bay, and The Cosmopolitan of Las Vegas.
The company serves customers through properties in Las Vegas and other U.S. markets, including regional destinations in Michigan, Maryland, Massachusetts, Mississippi, New Jersey, New York, and Ohio.
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