MGM Resorts International (NYSE:MGM) Director Daniel Taylor Sells 6,675 Shares

MGM Resorts International (NYSE:MGM) Director Daniel Taylor sold 6,675 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $38.44, for a total value of $256,587.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

MGM Resorts International Stock Performance

Shares of MGM stock traded up $0.05 on Tuesday, hitting $38.45. The company had a trading volume of 3,003,921 shares, compared to its average volume of 4,838,043. MGM Resorts International has a twelve month low of $29.18 and a twelve month high of $40.94. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 1.93. The firm has a market cap of $9.84 billion, a P/E ratio of 53.40 and a beta of 1.28. The company has a 50-day moving average price of $37.59 and a 200-day moving average price of $36.00.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, April 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). MGM Resorts International had a return on equity of 24.43% and a net margin of 1.03%.The company had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same period last year, the business earned $0.69 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. As a group, equities research analysts predict that MGM Resorts International will post 1.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MGM Resorts International

A number of large investors have recently added to or reduced their stakes in MGM. Whittier Trust Co. grew its position in shares of MGM Resorts International by 2.5% in the first quarter. Whittier Trust Co. now owns 10,778 shares of the company’s stock valued at $405,000 after purchasing an additional 262 shares during the period. Global Retirement Partners LLC raised its position in shares of MGM Resorts International by 55.9% during the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 281 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake in MGM Resorts International by 4.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 7,700 shares of the company’s stock valued at $286,000 after buying an additional 313 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in MGM Resorts International by 0.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 39,763 shares of the company’s stock valued at $1,378,000 after buying an additional 328 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in MGM Resorts International by 23.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,893 shares of the company’s stock worth $69,000 after buying an additional 355 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MGM. Weiss Ratings upgraded shares of MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Capital One Financial raised their price target on shares of MGM Resorts International from $46.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Jefferies Financial Group downgraded shares of MGM Resorts International from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $50.00 to $44.00 in a research report on Friday, May 1st. JPMorgan Chase & Co. lowered their target price on shares of MGM Resorts International from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Finally, Mizuho dropped their target price on MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, MGM Resorts International has a consensus rating of “Hold” and a consensus target price of $47.12.

About MGM Resorts International

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.