MGM Resorts International (NYSE:MGM) Director Keith A. Meister purchased 81,249 shares of the firm’s stock in a transaction on Monday, June 24th. The shares were purchased at an average cost of $27.99 per share, for a total transaction of $2,274,159.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of MGM stock opened at $27.87 on Thursday. The stock has a market cap of $15.03 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 4.55 and a beta of 1.34. MGM Resorts International has a 1-year low of $21.61 and a 1-year high of $31.66. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.78. The business’s 50-day moving average is $26.37.
MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.04). The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.12 billion. MGM Resorts International had a return on equity of 4.03% and a net margin of 2.26%. The company’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 earnings per share. As a group, equities analysts expect that MGM Resorts International will post 0.96 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 10th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.52 annualized dividend and a dividend yield of 1.87%. MGM Resorts International’s payout ratio is currently 52.53%.
Several hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its holdings in shares of MGM Resorts International by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 21,903 shares of the company’s stock worth $531,000 after acquiring an additional 386 shares during the period. Natixis Advisors L.P. raised its holdings in MGM Resorts International by 0.3% in the fourth quarter. Natixis Advisors L.P. now owns 140,137 shares of the company’s stock valued at $3,399,000 after buying an additional 468 shares during the period. Advisor Partners LLC raised its holdings in MGM Resorts International by 5.2% in the first quarter. Advisor Partners LLC now owns 10,136 shares of the company’s stock valued at $260,000 after buying an additional 501 shares during the period. Louisiana State Employees Retirement System raised its holdings in MGM Resorts International by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 26,900 shares of the company’s stock valued at $690,000 after buying an additional 600 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in MGM Resorts International by 94.3% in the first quarter. Quadrant Capital Group LLC now owns 1,259 shares of the company’s stock valued at $29,000 after buying an additional 611 shares during the period. Institutional investors and hedge funds own 79.35% of the company’s stock.
Several equities research analysts have issued reports on the stock. Morgan Stanley decreased their price target on shares of MGM Resorts International from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Deutsche Bank reaffirmed a “hold” rating and set a $32.00 price target on shares of MGM Resorts International in a research note on Monday, March 25th. Credit Suisse Group reaffirmed a “neutral” rating and set a $30.00 price target on shares of MGM Resorts International in a research note on Wednesday, March 20th. Finally, Zacks Investment Research upgraded shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a report on Friday, March 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. MGM Resorts International presently has an average rating of “Hold” and a consensus target price of $32.78.
About MGM Resorts International
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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