On Wednesday, 7th June, the company sold 10,000 shares in an exchange. The stock was bought at an average of $41.31, resulting in a value of $413100.00. After the transaction was completed, the insider owns approximately 2,572,910.73 worth of stock. This link will take you to a page that contains more information.
MGM Resorts International Price Performance
During Wednesday's mid-day trading, a share of 888 gained $0.22 to reach $41.53. Stock of the company traded at 3,159,930 compared to 4,334,567 shares on average. The company has a $15.11 billion market capitalization, a PE of 8.83, and a beta value of 2.07. The debt-to equity ratio for the company is 1.31. Its current ratio is 2.19, and its quick ratio is 2.15. The stock's fifty-day moving average is $42.75; its two hundred day moving range is $40.61. The company released its last quarterly earnings report on Monday, 1st May. The company's earnings per share were $0.44, exceeding the consensus estimate of $0.04 by $0.40. Revenue for the company was $3.90 billion, which is higher than analyst expectations of $3.61. MGM Resorts International reported a return on equity that was negative at 1.33%, and a margin net of 13.84%. Revenue for the quarter was 36.6% higher than it was in the same period last year. In the same quarter of the previous year, the company earned $0.01 per share. Sell-side analysts expect MGM Resorts International to post 1.89 earnings per share for the current fiscal.
MGM Resorts International announced that on February 8, its Board of Directors had approved a plan to repurchase $2.00 billion worth of shares. The company can repurchase as much as 12.6% of their shares via open market purchases. Shares-buyback plans usually indicate that the management of a company believes its shares to be undervalued.
Analyst Upgrades and downgrades
Several research firms have recently made comments on MGM. MGM Resorts International was the subject of a research report published on Thursday 18th May. The company was given a rating of 'buy'. JPMorgan Chase & Co. raised their price target on MGM Resorts International in a research note on Tuesday, 2nd May from $55.00 up to $60.00. TheStreet upgraded MGM Resorts International in a report published on Thursday, 4th April from a "c+" rating to a "b-". JMP Securities reiterated its'market-outperform' rating on Monday, April 17, and set a price target of $60.00 for shares of MGM Resorts International. Nine analysts have given the stock a buy recommendation, while two have rated it as a hold. According to MarketBeat the stock has an average rating 'Moderate buy' with a consensus target price of $56.13.
Hedge Funds weigh in on MGM Resorts International
Recent changes in the MGM stock market have seen hedge funds and institutional investors increase or decrease their stakes. RB Capital Management LLC increased its stake in MGM Resorts International during the first quarter by 29.1%. RB Capital Management LLC owns 7,796 of the company’s shares valued at $327,000, after purchasing an additional 1,756 during the last quarter. American Century Companies Inc. increased its stake in MGM Resorts International shares by 10.7% during the first quarter. American Century Companies Inc. owns 24,436 of the company’s stock worth $1,024,000. This is after buying 2,368 additional shares in the last quarter. Commonwealth of Pennsylvania Public Schools Empls Retrmt SYS increased its stake in MGM Resorts International shares by 3.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owns now 50,398 of the company’s stock, valued at $2.114,000, after buying an additional 1,542 during the last quarter. Synovus Financial Corp increased its stake in MGM Resorts International shares by 107.5% during the first quarter. Synovus Financial Corp owns 12,597 of the company’s shares valued at $529,000, after buying 6,526 additional shares in the last quarter. Cibc world market Inc. increased its stake in MGM Resorts International shares by 81.6% during the first quarter. Cibc World Market Inc. owns 10,980 of the company’s stock, valued at $461,000. This is after buying 4,934 additional shares in the last quarter. Institutional investors own 82.77% the stock.
MGM Resorts International Company profile
MGM Resorts International operates casinos, hotels, and entertainment resorts through its subsidiaries in the United States, Macau, and other countries. The company is divided into three segments: Las Vegas Strip Resorts; Regional Operations; and MGM China. The company's casino resorts include gaming, hotels, conventions, dining, entertainment and retail.
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