MGM Resorts International (NYSE:MGM) CAO Sells $227,040.00 in Stock

MGM Resorts International (NYSE:MGM) CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

MGM Resorts International Stock Performance

NYSE MGM opened at $36.02 on Friday. The company has a fifty day simple moving average of $34.53 and a 200 day simple moving average of $36.81. MGM Resorts International has a 12-month low of $31.61 and a 12-month high of $48.24. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The company has a market cap of $10.28 billion, a P/E ratio of 15.01, a PEG ratio of 0.98 and a beta of 2.20.

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, beating 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%. Sell-side analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MGM Resorts International

Large investors have recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. bought a new position in MGM Resorts International during the 3rd quarter valued at $28,000. Assetmark Inc. lifted its stake in MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after acquiring an additional 411 shares in the last quarter. Global Trust Asset Management LLC bought a new position in MGM Resorts International during the 4th quarter valued at $28,000. Eastern Bank bought a new position in MGM Resorts International during the 3rd quarter valued at $35,000. Finally, True Wealth Design LLC bought a new position in MGM Resorts International during the 4th quarter valued at $33,000. 68.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on MGM. Citigroup raised their price target on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Leerink Partners lowered shares of MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Argus upgraded 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 report on Friday, February 14th. Capital One Financial raised their price target on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company raised their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.