MGM Resorts International (NYSE:MGM) Director Daniel J. Taylor Sells 5,261 Shares

MGM Resorts International (NYSE:MGM) Director Daniel J. Taylor sold 5,261 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $34.93, for a total transaction of $183,766.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

MGM Resorts International Stock Performance

Shares of MGM opened at $34.35 on Friday. MGM Resorts International has a one year low of $25.30 and a one year high of $47.26. The firm has a market capitalization of $9.35 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 0.98 and a beta of 1.78. The company has a 50-day simple moving average of $30.81 and a two-hundred day simple moving average of $33.87. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.50 by $0.19. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.29 billion. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share. On average, analysts anticipate that MGM Resorts International will post 2.21 EPS for the current fiscal year.

MGM Resorts International announced that its board has approved a share repurchase program on Wednesday, April 30th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 22.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Argus raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Friday, February 14th. Citigroup boosted their target price on MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Macquarie dropped their target price on MGM Resorts International from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Mizuho boosted their price objective on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley cut their target price on shares of MGM Resorts International from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.94.

Institutional Trading of MGM Resorts International

Several institutional investors have recently bought and sold shares of the company. Global Trust Asset Management LLC bought a new position in MGM Resorts International in the 4th quarter valued at approximately $28,000. Assetmark Inc. boosted its position in shares of MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after buying an additional 411 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in MGM Resorts International in the 4th quarter worth about $28,000. Golden State Wealth Management LLC raised its position in MGM Resorts International by 83.5% in the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company’s stock worth $30,000 after buying an additional 455 shares during the last quarter. Finally, True Wealth Design LLC bought a new position in MGM Resorts International during the 4th quarter valued at about $33,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

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.