MGM Resorts International (NYSE:MGM) Director Keith A. Meister acquired 137,021 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average price of $27.61 per share, with a total value of $3,783,149.81. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
MGM Resorts International stock opened at $27.74 on Thursday. The stock has a market cap of $14.80 billion, a PE ratio of 28.02, a P/E/G ratio of 3.46 and a beta of 1.34. MGM Resorts International has a 1 year low of $21.61 and a 1 year high of $31.66. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.78 and a quick ratio of 0.75.
MGM Resorts International (NYSE:MGM) last posted its earnings results on Monday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.04). The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.12 billion. MGM Resorts International had a return on equity of 4.03% and a net margin of 2.26%. MGM Resorts International’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Equities analysts forecast that MGM Resorts International will post 0.97 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of MGM. First Personal Financial Services acquired a new position in shares of MGM Resorts International in the 1st quarter valued at approximately $26,000. JOYN Advisors Inc. grew its position in shares of MGM Resorts International by 377.0% in the 4th quarter. JOYN Advisors Inc. now owns 1,159 shares of the company’s stock valued at $28,000 after purchasing an additional 916 shares during the period. Quadrant Capital Group LLC grew its position in shares of MGM Resorts International by 94.3% in the 1st quarter. Quadrant Capital Group LLC now owns 1,259 shares of the company’s stock valued at $29,000 after purchasing an additional 611 shares during the period. Lindbrook Capital LLC acquired a new position in shares of MGM Resorts International in the 4th quarter valued at approximately $34,000. Finally, Rational Advisors LLC grew its position in shares of MGM Resorts International by 1,113.8% in the 1st quarter. Rational Advisors LLC now owns 1,323 shares of the company’s stock valued at $34,000 after purchasing an additional 1,214 shares during the period. Institutional investors and hedge funds own 79.35% of the company’s stock.
Several equities analysts have recently issued reports on the company. Deutsche Bank restated a “hold” rating and set a $32.00 target price on shares of MGM Resorts International in a research report on Monday, March 25th. Zacks Investment Research upgraded MGM Resorts International from a “strong sell” rating to a “hold” rating in a research report on Friday, March 8th. Morgan Stanley decreased their target price on MGM Resorts International from $35.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, June 6th. Finally, Credit Suisse Group restated a “neutral” rating and set a $30.00 target price on shares of MGM Resorts International in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. MGM Resorts International currently has an average rating of “Hold” and a consensus target price of $33.20.
About MGM Resorts International
MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau. 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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