MGM Resorts International (NYSE:MGM) Director William Warwick Grounds bought 1,000 shares of MGM Resorts International stock in a transaction that occurred on Wednesday, March 14th. The stock was purchased at an average cost of $35.50 per share, for a total transaction of $35,500.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link.
MGM Resorts International stock opened at $35.99 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 1.09. The stock has a market cap of $20,383.56, a P/E ratio of 10.59, a PEG ratio of 1.71 and a beta of 1.45. MGM Resorts International has a 1 year low of $25.21 and a 1 year high of $38.41.
MGM Resorts International (NYSE:MGM) last announced its earnings results on Tuesday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.51 billion. MGM Resorts International had a net margin of 17.92% and a return on equity of 5.78%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.11 earnings per share. research analysts predict that MGM Resorts International will post 1.39 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Friday, March 9th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, March 8th. This is a positive change from MGM Resorts International’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.33%. MGM Resorts International’s dividend payout ratio (DPR) is 14.12%.
A number of analysts have weighed in on MGM shares. Bank of America raised their price objective on shares of MGM Resorts International from $38.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Zacks Investment Research raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Monday, February 5th. Jefferies Group started coverage on shares of MGM Resorts International in a report on Thursday, January 18th. They set a “buy” rating and a $43.00 price objective on the stock. Stifel Nicolaus reissued a “hold” rating and set a $37.00 price objective (up previously from $36.00) on shares of MGM Resorts International in a report on Wednesday, February 21st. Finally, Telsey Advisory Group started coverage on shares of MGM Resorts International in a report on Wednesday, March 14th. They set a “market perform” rating and a $39.00 price objective on the stock. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $37.94.
Several institutional investors and hedge funds have recently made changes to their positions in MGM. Crossmark Global Holdings Inc. purchased a new position in shares of MGM Resorts International during the third quarter worth approximately $355,000. State of Tennessee Treasury Department purchased a new position in shares of MGM Resorts International during the third quarter worth approximately $4,590,000. Prudential Financial Inc. grew its position in shares of MGM Resorts International by 1,762.5% during the third quarter. Prudential Financial Inc. now owns 667,921 shares of the company’s stock worth $21,768,000 after acquiring an additional 632,060 shares during the last quarter. Keybank National Association OH purchased a new position in shares of MGM Resorts International during the third quarter worth approximately $265,000. Finally, Principal Financial Group Inc. grew its position in shares of MGM Resorts International by 1,231.4% during the third quarter. Principal Financial Group Inc. now owns 769,072 shares of the company’s stock worth $25,064,000 after acquiring an additional 711,307 shares during the last quarter. Institutional investors and hedge funds own 82.50% of the company’s stock.
About MGM Resorts International
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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