Insider Buying: MGM Resorts International (MGM) Director Buys 1,000 Shares of Stock

MGM Resorts International (NYSE:MGM) Director William Warwick Grounds acquired 1,000 shares of the business’s stock in a transaction on Wednesday, March 14th. The shares were purchased at an average price of $35.50 per share, with a total value of $35,500.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of MGM Resorts International (MGM) traded up $0.31 on Friday, hitting $35.99. 4,502,252 shares of the stock were exchanged, compared to its average volume of 6,770,090. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.77 and a quick ratio of 0.73. The stock has a market cap of $20,383.55, a P/E ratio of 35.28, a PEG ratio of 1.72 and a beta of 1.45. MGM Resorts International has a 1-year low of $25.21 and a 1-year high of $38.41.

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MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.04. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.51 billion. MGM Resorts International had a net margin of 17.92% and a return on equity of 5.78%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 EPS. equities analysts forecast that MGM Resorts International will post 1.39 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Friday, March 9th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Thursday, March 8th. This is an increase from MGM Resorts International’s previous quarterly dividend of $0.11. MGM Resorts International’s dividend payout ratio (DPR) is currently 14.12%.

MGM has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of MGM Resorts International from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Zacks Investment Research upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Monday, February 5th. Jefferies Group initiated coverage on shares of MGM Resorts International in a research report on Thursday, January 18th. They set a “buy” rating and a $43.00 price objective for the company. Stifel Nicolaus restated a “hold” rating and set a $37.00 price objective (up previously from $36.00) on shares of MGM Resorts International in a research report on Wednesday, February 21st. Finally, Telsey Advisory Group initiated coverage on shares of MGM Resorts International in a research report on Wednesday. They set a “market perform” rating and a $39.00 price objective for the company. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. MGM Resorts International currently has a consensus rating of “Buy” and an average target price of $37.94.

Institutional investors and hedge funds have recently made changes to their positions in the company. Asset Management One Co. Ltd. grew its stake in MGM Resorts International by 5.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 712,424 shares of the company’s stock valued at $23,209,000 after acquiring an additional 34,625 shares during the last quarter. Cadence Capital Management LLC acquired a new stake in MGM Resorts International in the 3rd quarter valued at about $351,000. Arrow Investment Advisors LLC acquired a new stake in MGM Resorts International in the 3rd quarter valued at about $479,000. Nordea Investment Management AB grew its stake in MGM Resorts International by 47.6% in the 3rd quarter. Nordea Investment Management AB now owns 22,871 shares of the company’s stock valued at $745,000 after acquiring an additional 7,378 shares during the last quarter. Finally, American Assets Capital Advisers LLC grew its stake in MGM Resorts International by 64.6% in the 4th quarter. American Assets Capital Advisers LLC now owns 570,704 shares of the company’s stock valued at $19,055,000 after acquiring an additional 224,000 shares during the last quarter. Institutional investors and hedge funds own 82.52% of the company’s stock.

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About MGM Resorts International

MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.

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

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