MGM Resorts International (NYSE:MGM) President William Hornbuckle sold 26,225 shares of the firm’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of C$28.56, for a total transaction of C$748,986.00. Following the transaction, the president now directly owns 210,141 shares of the company’s stock, valued at approximately C$6,001,626.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of MGM Resorts International (NYSE:MGM) opened at 27.37 on Tuesday. The company has a market cap of $15.69 billion, a price-to-earnings ratio of 52.43 and a beta of 1.79. The stock has a 50 day moving average of $26.36 and a 200 day moving average of $24.28. MGM Resorts International has a 52-week low of $16.18 and a 52-week high of $28.80.

MGM Resorts International (NYSE:MGM) last released its earnings results on Monday, November 7th. The company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.47. The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.37 billion. MGM Resorts International had a net margin of 3.15% and a return on equity of 6.45%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 EPS. On average, equities research analysts expect that MGM Resorts International will post $1.17 EPS for the current year.

Insider Buying and Selling by Quarter for MGM Resorts International (NYSE:MGM)

Several hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its stake in MGM Resorts International by 1.1% in the second quarter. CIBC Asset Management Inc now owns 21,325 shares of the company’s stock worth $483,000 after buying an additional 237 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of MGM Resorts International by 2.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 11,416 shares of the company’s stock valued at $233,000 after buying an additional 253 shares during the period. Prudential Financial Inc. increased its stake in shares of MGM Resorts International by 1.5% in the first quarter. Prudential Financial Inc. now owns 27,061 shares of the company’s stock valued at $580,000 after buying an additional 400 shares during the period. GLG LLC increased its stake in shares of MGM Resorts International by 1.7% in the second quarter. GLG LLC now owns 28,150 shares of the company’s stock valued at $637,000 after buying an additional 472 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of MGM Resorts International by 2.1% in the second quarter. Oregon Public Employees Retirement Fund now owns 24,884 shares of the company’s stock valued at $563,000 after buying an additional 500 shares during the period. 71.27% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on MGM shares. Telsey Advisory Group lifted their target price on shares of MGM Resorts International from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 8th. Stifel Nicolaus raised their price target on shares of MGM Resorts International from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, November 8th. Credit Agricole SA restated an “overweight” rating and issued a $29.00 price target on shares of MGM Resorts International in a report on Tuesday, September 20th. TheStreet upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating in a report on Monday, November 7th. Finally, Barclays PLC set a $32.00 price target on shares of MGM Resorts International and gave the stock a “buy” rating in a report on Wednesday, November 9th. Twenty-three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. MGM Resorts International has a consensus rating of “Buy” and an average price target of C$30.63.

MGM Resorts International Company Profile

MGM Resorts International is a holding company. The Company owns and operates casino resorts. It operates in two segments: wholly owned domestic resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail and other resort amenities. It has additional business activities, including its investments in unconsolidated affiliates, and other corporate and management operations.

5 Day Chart for NYSE:MGM

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