MGM Resorts International (NYSE:MGM) EVP John Mcmanus sold 10,000 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $31.28, for a total transaction of $312,800.00. Following the completion of the sale, the executive vice president now owns 46,917 shares in the company, valued at $1,467,563.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

John Mcmanus also recently made the following trade(s):

  • On Monday, May 1st, John Mcmanus sold 14,942 shares of MGM Resorts International stock. The stock was sold at an average price of $30.74, for a total transaction of $459,317.08.

MGM Resorts International (NYSE:MGM) traded down 0.86% during trading on Tuesday, reaching $31.30. The company’s stock had a trading volume of 7,750,099 shares. MGM Resorts International has a 52 week low of $21.31 and a 52 week high of $32.28. The stock’s 50 day moving average is $29.75 and its 200-day moving average is $28.52. The firm has a market cap of $17.99 billion, a P/E ratio of 14.54 and a beta of 1.66.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Thursday, April 27th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.12. MGM Resorts International had a return on equity of 6.45% and a net margin of 3.15%. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same period in the prior year, the company earned $0.16 earnings per share. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, equities research analysts forecast that MGM Resorts International will post $1.27 earnings per share for the current fiscal year.

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

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, June 9th will be issued a $0.11 dividend. The ex-dividend date is Wednesday, June 7th. This represents a $0.44 annualized dividend and a dividend yield of 1.41%.

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Large investors have recently made changes to their positions in the company. IFP Advisors Inc increased its stake in shares of MGM Resorts International by 0.7% in the first quarter. IFP Advisors Inc now owns 4,558 shares of the company’s stock valued at $125,000 after buying an additional 31 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of MGM Resorts International by 15.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,521 shares of the company’s stock valued at $129,000 after buying an additional 606 shares during the period. Toronto Dominion Bank increased its stake in shares of MGM Resorts International by 28.0% in the first quarter. Toronto Dominion Bank now owns 5,020 shares of the company’s stock valued at $138,000 after buying an additional 1,099 shares during the period. MUFG Americas Holdings Corp acquired a new stake in shares of MGM Resorts International during the first quarter valued at about $198,000. Finally, Pacad Investment Ltd. acquired a new stake in shares of MGM Resorts International during the fourth quarter valued at about $199,000. Institutional investors own 71.92% of the company’s stock.

Several equities research analysts have commented on MGM shares. Goldman Sachs Group Inc reiterated a “buy” rating and issued a $36.00 price target on shares of MGM Resorts International in a research report on Tuesday, March 28th. Barclays PLC dropped their price target on shares of MGM Resorts International from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, March 23rd. Instinet reiterated a “buy” rating and issued a $35.00 price target on shares of MGM Resorts International in a research report on Tuesday, February 7th. Wolfe Research reiterated an “outperform” rating on shares of MGM Resorts International in a research report on Tuesday, March 28th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $36.00 price target (up from $32.00) on shares of MGM Resorts International in a research report on Thursday, April 27th. Two research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $33.87.

About MGM Resorts International

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.

12 Month Chart for NYSE:MGM

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