Insider Selling: Robert Baldwin Sells 26,973 Shares of MGM Resorts International Stock (MGM)
MGM Resorts International (NYSE:MGM) Insider Robert Baldwin sold 26,973 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $25.21, for a total transaction of $679,989.33. Following the completion of the sale, the insider now directly owns 54,265 shares in the company, valued at approximately $1,368,021. The sale was disclosed in a document filed with the SEC, 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, August 11th. 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 issued a buy rating to the stock. MGM Resorts International currently has a consensus rating of “Buy” and an average price target of $30.18.
MGM Resorts International (NYSE:MGM) traded down 0.44% during mid-day trading on Thursday, hitting $25.10. The stock had a trading volume of 5,444,763 shares. MGM Resorts International has a 52-week low of $17.30 and a 52-week high of $28.75. The stock has a 50-day moving average of $25.78 and a 200-day moving average of $25.5. The company has a market cap of $12.318 billion and a price-to-earnings ratio of 86.04.
MGM Resorts International (NYSE:MGM) last released its earnings data on Tuesday, August 5th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts expect that MGM Resorts International will post $0.62 EPS 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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