MGM Resorts International (NYSE:MGM) CAO Todd Meinert Sells 6,000 Shares

MGM Resorts International (NYSE:MGM) CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at $692,509.84. This represents a 24.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

MGM Resorts International Price Performance

MGM Resorts International stock traded down $0.03 during mid-day trading on Thursday, hitting $38.32. The company’s stock had a trading volume of 3,234,070 shares, compared to its average volume of 5,181,113. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $11.41 billion, a P/E ratio of 15.96, a P/E/G ratio of 3.06 and a beta of 2.20. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. The stock’s fifty day moving average price is $34.51 and its two-hundred day moving average price is $36.78.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. Research analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MGM. Norges Bank acquired a new position in MGM Resorts International in the fourth quarter worth approximately $88,033,000. HG Vora Capital Management LLC acquired a new position in MGM Resorts International in the 3rd quarter worth approximately $97,725,000. Eminence Capital LP acquired a new position in MGM Resorts International in the 4th quarter worth approximately $72,408,000. Goldentree Asset Management LP boosted its stake in MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after purchasing an additional 1,390,599 shares during the period. Finally, AQR Capital Management LLC boosted its stake in MGM Resorts International by 12,726.8% in the 4th quarter. AQR Capital Management LLC now owns 1,278,965 shares of the company’s stock worth $44,316,000 after purchasing an additional 1,268,994 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. BTIG Research cut shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Argus upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Friday, February 14th. Stifel Nicolaus raised their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Capital One Financial raised their price target on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, JMP Securities restated a “market outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.47.

About MGM Resorts International

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.