MGM Resorts International (NYSE:MGM) CAO Todd Meinert Sells 6,000 Shares

MGM Resorts International (NYSE:MGM) CAO Todd Meinert sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

MGM Resorts International Price Performance

Shares of MGM stock opened at $38.32 on Friday. The stock has a 50-day moving average price of $34.54 and a 200 day moving average price of $36.79. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The firm has a market cap of $10.94 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 0.98 and a beta of 2.20. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. Research analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MGM shares. Mizuho raised their target price on MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Macquarie reaffirmed an “outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Argus raised MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Friday, February 14th. Wells Fargo & Company lifted their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group cut their price objective on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.47.

Hedge Funds Weigh In On MGM Resorts International

Several institutional investors have recently modified their holdings of MGM. Norges Bank bought a new stake in MGM Resorts International in the 4th quarter valued at approximately $88,033,000. HG Vora Capital Management LLC acquired a new position in shares of MGM Resorts International during the 3rd quarter worth approximately $97,725,000. Eminence Capital LP acquired a new position in shares of MGM Resorts International during the 4th quarter worth approximately $72,408,000. Goldentree Asset Management LP increased its holdings in shares of MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after acquiring an additional 1,390,599 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of MGM Resorts International by 12,726.8% during the 4th quarter. AQR Capital Management LLC now owns 1,278,965 shares of the company’s stock worth $44,316,000 after acquiring an additional 1,268,994 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

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.