MGM Resorts International Sees Unusually Large Options Volume (MGM)
Shares of MGM Resorts International (NYSE:MGM) were the target of unusually large options trading activity on Tuesday. Investors bought 24,189 put options on the company, AR Network reports. This is an increase of approximately 381% compared to the typical daily volume of 5,032 put options.
In other MGM Resorts International news, EVP Phyllis James sold 4,875 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $25.00, for a total transaction of $121,875.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated an “outperform” rating on shares of MGM Resorts International in a research note on Friday, August 22nd. They now have a $30.00 price target on the stock. Separately, 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. Finally, 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. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $30.17.
MGM Resorts International (NYSE:MGM) traded down 2.62% during mid-day trading on Tuesday, hitting $23.83. The stock had a trading volume of 17,948,664 shares. MGM Resorts International has a one year low of $17.86 and a one year high of $28.75. The stock has a 50-day moving average of $25.51 and a 200-day moving average of $25.58. The company has a market cap of $11.694 billion and a price-to-earnings ratio of 83.52.
MGM Resorts International (NYSE:MGM) last released its earnings data on Tuesday, August 5th. The company reported $0.21 earnings per share for the quarter, beating the analysts’ 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 last 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. 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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