Insider Selling: MGM Resorts International (NYSE:MGM) Director Sells 5,200 Shares of Stock

MGM Resorts International (NYSE:MGM) Director Mary Christine Gay sold 5,200 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $29.20, for a total transaction of $151,840.00. Following the sale, the director now directly owns 17,716 shares of the company’s stock, valued at approximately $517,307.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

MGM Resorts International stock traded down $0.10 during midday trading on Friday, hitting $29.07. The stock had a trading volume of 4,672,800 shares, compared to its average volume of 6,650,151. The firm’s fifty day moving average is $28.63 and its two-hundred day moving average is $27.44. The company has a market capitalization of $15.38 billion, a PE ratio of 29.36, a P/E/G ratio of 4.24 and a beta of 1.49. MGM Resorts International has a 52-week low of $21.61 and a 52-week high of $31.68. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 1.39.

MGM Resorts International (NYSE:MGM) last released its earnings results on Thursday, July 25th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.02). The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.21 billion. MGM Resorts International had a return on equity of 3.77% and a net margin of 1.56%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.26 earnings per share. As a group, equities research analysts predict that MGM Resorts International will post 0.85 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 10th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.79%. The ex-dividend date is Monday, September 9th. MGM Resorts International’s dividend payout ratio is 52.53%.

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in MGM Resorts International by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 6,387,824 shares of the company’s stock worth $154,688,000 after purchasing an additional 366,980 shares during the period. Janus Henderson Group PLC boosted its stake in MGM Resorts International by 65.3% in the 1st quarter. Janus Henderson Group PLC now owns 221,115 shares of the company’s stock worth $5,674,000 after purchasing an additional 87,349 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in MGM Resorts International by 39.6% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 13,215 shares of the company’s stock worth $339,000 after purchasing an additional 3,746 shares during the period. Comerica Bank boosted its stake in MGM Resorts International by 1.2% in the 1st quarter. Comerica Bank now owns 83,513 shares of the company’s stock worth $2,225,000 after purchasing an additional 986 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its stake in MGM Resorts International by 4.4% in the 1st quarter. Crossmark Global Holdings Inc. now owns 15,062 shares of the company’s stock worth $386,000 after purchasing an additional 630 shares during the period. 82.57% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on MGM shares. Susquehanna Bancshares started coverage on shares of MGM Resorts International in a research report on Wednesday, July 24th. They set a “negative” rating and a $23.00 price target for the company. Morgan Stanley upped their price target on shares of MGM Resorts International from $31.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. ValuEngine lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. Nomura increased their target price on shares of MGM Resorts International from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Argus increased their target price on shares of MGM Resorts International to $35.00 and gave the stock a “buy” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. MGM Resorts International currently has a consensus rating of “Hold” and a consensus target price of $30.91.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau. 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.

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Insider Buying and Selling by Quarter for MGM Resorts International (NYSE:MGM)

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