MGM Resorts International (NYSE:MGM) insider Robert Baldwin sold 49,179 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $33.13, for a total value of $1,629,300.27. Following the transaction, the insider now owns 145,105 shares of the company’s stock, valued at approximately $4,807,328.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of MGM Resorts International (MGM) opened at 32.75 on Wednesday. The firm has a market capitalization of $18.84 billion, a price-to-earnings ratio of 19.39 and a beta of 1.48. The stock’s 50 day moving average price is $32.20 and its 200-day moving average price is $30.49. MGM Resorts International has a 12 month low of $24.64 and a 12 month high of $34.65.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Thursday, July 27th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.67 billion. MGM Resorts International had a net margin of 9.26% and a return on equity of 7.97%. The company’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 earnings per share. On average, equities research analysts predict that MGM Resorts International will post $1.29 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Monday, September 11th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.34%. MGM Resorts International’s payout ratio is presently 26.04%.

MGM Resorts International announced that its board has authorized a share repurchase program on Tuesday, September 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 5.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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Several analysts have weighed in on MGM shares. BidaskClub raised MGM Resorts International from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research downgraded MGM Resorts International from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. Telsey Advisory Group lifted their target price on MGM Resorts International from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Bank of America Corporation reaffirmed a “buy” rating and set a $40.00 target price (up previously from $38.00) on shares of MGM Resorts International in a research note on Friday, September 8th. Finally, Deutsche Bank AG downgraded MGM Resorts International from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a research note on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the stock. MGM Resorts International has a consensus rating of “Buy” and a consensus target price of $35.12.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. IFP Advisors Inc grew its stake in shares of MGM Resorts International by 0.7% during the first quarter. IFP Advisors Inc now owns 4,558 shares of the company’s stock worth $125,000 after buying an additional 31 shares during the last quarter. World Asset Management Inc grew its stake in shares of MGM Resorts International by 0.5% during the second quarter. World Asset Management Inc now owns 19,646 shares of the company’s stock worth $615,000 after buying an additional 91 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of MGM Resorts International by 0.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 34,213 shares of the company’s stock worth $937,000 after buying an additional 140 shares during the last quarter. Calamos Wealth Management LLC grew its stake in shares of MGM Resorts International by 0.5% during the second quarter. Calamos Wealth Management LLC now owns 52,540 shares of the company’s stock worth $1,644,000 after buying an additional 257 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of MGM Resorts International by 3.4% during the first quarter. Pacer Advisors Inc. now owns 9,269 shares of the company’s stock worth $254,000 after buying an additional 302 shares during the last quarter. 75.22% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Company Profile

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.

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

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