Key Points
- Director Keith Meister sold 37,500 shares on March 9 at an average price of $34.27 for about $1.285M, trimming his stake by 0.70% to 5,347,978 shares valued at roughly $183.3M.
- MGM beat quarterly estimates, reporting $1.60 EPS versus a $0.64 consensus and $4.61B in revenue, while the stock trades with a $9.12B market cap and carries a consensus analyst rating of "Hold" with a $41.94 price target.
MGM Resorts International (NYSE:MGM - Get Free Report) Director Keith Meister sold 37,500 shares of the firm's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the completion of the sale, the director owned 5,347,978 shares of the company's stock, valued at $183,275,206.06. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
MGM Resorts International Trading Up 0.2%
Shares of MGM Resorts International stock opened at $35.66 on Tuesday. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 47.54 and a beta of 1.38. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $40.16. The company's 50-day simple moving average is $35.34 and its 200-day simple moving average is $34.95. The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 1.91.
MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $1.60 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.96. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. The firm had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter last year, the firm earned $0.45 earnings per share. As a group, equities research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.
Wall Street Analyst Weigh In
Several brokerages have weighed in on MGM. Texas Capital upgraded shares of MGM Resorts International to a "strong-buy" rating in a research report on Thursday, January 8th. Weiss Ratings restated a "sell (d)" rating on shares of MGM Resorts International in a report on Monday, December 29th. Argus dropped their price objective on MGM Resorts International from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Friday, November 14th. UBS Group reduced their price objective on MGM Resorts International from $39.00 to $37.00 and set a "neutral" rating for the company in a report on Monday, November 17th. Finally, Morgan Stanley reiterated an "underweight" rating and set a $34.00 target price on shares of MGM Resorts International in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, MGM Resorts International has a consensus rating of "Hold" and a consensus price target of $41.94.
Read Our Latest Research Report on MGM Resorts International
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Davis Selected Advisers lifted its stake in shares of MGM Resorts International by 12.0% during the 4th quarter. Davis Selected Advisers now owns 26,820,202 shares of the company's stock worth $978,669,000 after purchasing an additional 2,866,750 shares during the period. Vanguard Group Inc. increased its stake in MGM Resorts International by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 23,782,004 shares of the company's stock valued at $867,805,000 after purchasing an additional 205,127 shares during the last quarter. Helikon Investments Ltd increased its stake in MGM Resorts International by 379.9% in the second quarter. Helikon Investments Ltd now owns 8,810,322 shares of the company's stock valued at $302,987,000 after purchasing an additional 6,974,347 shares during the last quarter. AQR Capital Management LLC lifted its position in MGM Resorts International by 202.5% during the third quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company's stock worth $292,772,000 after buying an additional 5,654,757 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in MGM Resorts International by 81.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company's stock worth $264,874,000 after buying an additional 3,429,946 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.
About MGM Resorts International
(
Get Free Report)
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.
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