MGM Resorts International (NYSE:MGM) Director Purchases $109,375.00 in Stock

MGM Resorts International (NYSE:MGMGet Rating) Director Paul J. Salem bought 3,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The shares were purchased at an average price of $31.25 per share, for a total transaction of $109,375.00. Following the transaction, the director now owns 1,520,500 shares of the company’s stock, valued at approximately $47,515,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of MGM stock traded up $0.41 during mid-day trading on Friday, reaching $34.89. The company’s stock had a trading volume of 4,648,293 shares, compared to its average volume of 5,560,325. The company’s 50 day simple moving average is $39.37 and its 200-day simple moving average is $41.89. MGM Resorts International has a 12-month low of $30.70 and a 12-month high of $51.17. The company has a quick ratio of 1.23, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $14.86 billion, a PE ratio of 11.33 and a beta of 2.18.

MGM Resorts International (NYSE:MGMGet Rating) last released its quarterly earnings results on Monday, May 2nd. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.10. MGM Resorts International had a net margin of 14.40% and a return on equity of 0.81%. During the same quarter in the prior year, the business posted ($0.68) EPS. As a group, research analysts anticipate that MGM Resorts International will post 0.76 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Friday, June 10th will be paid a dividend of $0.0025 per share. This represents a $0.01 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, June 9th. MGM Resorts International’s dividend payout ratio (DPR) is 0.32%.

A number of brokerages recently issued reports on MGM. StockNews.com upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating in a research report on Thursday, May 19th. Stifel Nicolaus increased their price target on shares of MGM Resorts International from $53.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, February 10th. Macquarie increased their price target on shares of MGM Resorts International from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 10th. Bank of America cut their price target on shares of MGM Resorts International from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, April 18th. Finally, Morgan Stanley cut their price target on shares of MGM Resorts International from $56.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, April 25th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $53.79.

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in MGM Resorts International by 3.3% during the 4th quarter. State Street Corp now owns 16,047,151 shares of the company’s stock worth $720,196,000 after buying an additional 517,377 shares during the period. Southeastern Asset Management Inc. TN increased its stake in MGM Resorts International by 5.8% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 5,846,629 shares of the company’s stock worth $262,397,000 after buying an additional 321,175 shares during the period. Allianz Asset Management GmbH increased its stake in MGM Resorts International by 71.2% during the 4th quarter. Allianz Asset Management GmbH now owns 4,272,794 shares of the company’s stock worth $191,762,000 after buying an additional 1,777,519 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in MGM Resorts International by 18.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,098,554 shares of the company’s stock worth $171,893,000 after acquiring an additional 639,019 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in MGM Resorts International by 8.6% during the 1st quarter. Invesco Ltd. now owns 4,018,367 shares of the company’s stock worth $168,530,000 after acquiring an additional 317,622 shares in the last quarter. 85.76% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Company Profile (Get Rating)

MGM Resorts International, through its subsidiaries, owns and operates 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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