Phyllis James Sells 15,815 Shares of MGM Resorts International (MGM) Stock

MGM Resorts International (NYSE:MGM) insider Phyllis James sold 15,815 shares of MGM Resorts International stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $28.26, for a total transaction of $446,931.90. Following the completion of the sale, the insider now owns 13,164 shares in the company, valued at approximately $372,014.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

NYSE:MGM opened at $28.17 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.64 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $15.15 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 3.76 and a beta of 1.39. MGM Resorts International has a twelve month low of $23.81 and a twelve month high of $38.41.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Tuesday, October 30th. The company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.06. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.99 billion. MGM Resorts International had a net margin of 16.75% and a return on equity of 4.51%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.34 earnings per share. On average, research analysts anticipate that MGM Resorts International will post 1.09 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Monday, December 10th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, December 7th. MGM Resorts International’s dividend payout ratio is currently 47.06%.

Several analysts have recently issued reports on MGM shares. Morgan Stanley dropped their target price on shares of MGM Resorts International from $39.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, July 20th. Nomura dropped their target price on shares of MGM Resorts International from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Monday, July 9th. Zacks Investment Research upgraded shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 8th. Barclays dropped their target price on shares of MGM Resorts International from $39.00 to $37.00 and set an “overweight” rating on the stock in a research report on Monday, August 6th. Finally, Bank of America reiterated a “buy” rating and issued a $30.00 target price on shares of MGM Resorts International in a research report on Tuesday, October 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $36.36.

Several large investors have recently bought and sold shares of MGM. MUFG Americas Holdings Corp purchased a new position in shares of MGM Resorts International in the second quarter worth about $102,000. Stratos Wealth Partners LTD. purchased a new position in shares of MGM Resorts International in the third quarter worth about $102,000. Garner Asset Management Corp purchased a new position in shares of MGM Resorts International in the third quarter worth about $151,000. Piedmont Investment Advisors LLC purchased a new position in shares of MGM Resorts International in the second quarter worth about $170,000. Finally, Princeton Capital Management LLC purchased a new position in shares of MGM Resorts International in the second quarter worth about $218,000. 80.06% of the stock is currently owned by hedge funds and other institutional investors.

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 China. The company operates through two segments, Domestic Resorts 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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