Keith A. Meister Sells 51,000 Shares of MGM Resorts International (NYSE:MGM) Stock

MGM Resorts International (NYSE:MGM) Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

MGM Resorts International Price Performance

Shares of MGM Resorts International stock opened at $36.25 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $10.79 billion, a price-to-earnings ratio of 12.95, a P/E/G ratio of 3.16 and a beta of 2.20. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24. The firm’s 50-day moving average price is $38.37 and its two-hundred day moving average price is $39.37.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. MGM Resorts International’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.64 earnings per share. On average, equities analysts predict that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

Institutional Trading of MGM Resorts International

Several hedge funds have recently modified their holdings of the stock. UMB Bank n.a. grew its stake in shares of MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of MGM Resorts International by 1.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock valued at $1,018,000 after purchasing an additional 278 shares during the last quarter. HB Wealth Management LLC boosted its stake in MGM Resorts International by 6.3% in the second quarter. HB Wealth Management LLC now owns 4,917 shares of the company’s stock valued at $219,000 after acquiring an additional 293 shares during the last quarter. Quent Capital LLC boosted its stake in MGM Resorts International by 14.6% in the third quarter. Quent Capital LLC now owns 2,383 shares of the company’s stock valued at $93,000 after acquiring an additional 304 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in MGM Resorts International by 0.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after acquiring an additional 309 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MGM has been the topic of several research analyst reports. Barclays lowered their price target on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday. JMP Securities decreased their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a report on Monday, November 25th. Wells Fargo & Company decreased their price target on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Morgan Stanley upped their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.54.

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.