MGM Resorts International Director Unloads $120,922 in Stock (MGM)
MGM Resorts International (NYSE:MGM) Director Rose Mckinney-James sold 4,870 shares of MGM Resorts International stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $24.83, for a total value of $120,922.10. Following the sale, the director now directly owns 100 shares of the company’s stock, valued at approximately $2,483. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on MGM shares. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of MGM Resorts International in a research note on Monday. They now have a $33.50 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of MGM Resorts International in a research note on Wednesday, August 6th. They now have a $31.00 price target on the stock, down previously from $32.00. Finally, analysts at Susquehanna raised their price target on shares of MGM Resorts International from $32.00 to $33.00 in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $30.18.
MGM Resorts International (NYSE:MGM) traded up 0.56% on Wednesday, hitting $24.95. 4,707,408 shares of the company’s stock traded hands. MGM Resorts International has a 1-year low of $16.97 and a 1-year high of $28.75. The stock has a 50-day moving average of $25.96 and a 200-day moving average of $25.52. The company has a market cap of $12.243 billion and a P/E ratio of 84.68.
MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.10. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the company posted $0.04 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts predict that MGM Resorts International will post $0.63 earnings per share for the current fiscal year.
MGM Resorts International is a holding company. The Company is a hospitality company. The Company’s primary business is the ownership and operation of casino resorts, which includes offering gaming, hotel, convention, dining, entertainment, retail and other resort amenities.
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