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

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

MGM Resorts International Price Performance

MGM Resorts International stock opened at $36.02 on Friday. The company has a market cap of $10.28 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 0.98 and a beta of 2.20. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24. The business has a fifty day moving average of $34.53 and a two-hundred day moving average of $36.80. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MGM Resorts International

A number of hedge funds and other institutional investors have recently modified their holdings of MGM. MidAtlantic Capital Management Inc. purchased a new position in MGM Resorts International in the 3rd quarter valued at approximately $28,000. Global Trust Asset Management LLC purchased a new stake in MGM Resorts International during the fourth quarter worth $28,000. Assetmark Inc. grew its holdings in MGM Resorts International by 104.1% in the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after purchasing an additional 411 shares during the last quarter. True Wealth Design LLC purchased a new position in shares of MGM Resorts International in the fourth quarter valued at $33,000. Finally, Eastern Bank acquired a new position in shares of MGM Resorts International during the 3rd quarter worth $35,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MGM shares. Barclays increased their price target on shares of MGM Resorts International from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Truist Financial decreased their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. BTIG Research cut MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Citigroup increased their price objective on MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus boosted their target price on MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $51.47.

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.