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 company’s 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 in the company, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

MGM Resorts International Trading Down 6.0 %

MGM stock opened at $36.02 on Friday. 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 company has a market cap of $10.28 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.98 and a beta of 2.20. The business has a fifty day simple moving average of $34.53 and a 200-day simple moving average of $36.80. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 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%. On average, equities research analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

Institutional Trading of MGM Resorts International

Institutional investors and hedge funds have recently bought and sold shares of the business. MidAtlantic Capital Management Inc. acquired a new position in MGM Resorts International during the third quarter valued at approximately $28,000. Assetmark Inc. raised its stake in shares of MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after acquiring an additional 411 shares during the period. Global Trust Asset Management LLC acquired a new position in shares of MGM Resorts International during the 4th quarter valued at $28,000. Eastern Bank purchased a new stake in MGM Resorts International during the 3rd quarter worth $35,000. Finally, True Wealth Design LLC purchased a new stake in MGM Resorts International during the 4th quarter worth $33,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MGM. Mizuho upped their price objective on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Stifel Nicolaus upped their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Susquehanna Bancshares raised their price target on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. BTIG Research lowered shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company raised their target price on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.47.

MGM Resorts International Company Profile

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.