MGM Resorts International (NYSE:MGM) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totalling 26,965,043 shares, a growth of 83.5% from the July 14th total of 14,695,576 shares. Based on an average daily volume of 21,251,955 shares, the days-to-cover ratio is currently 1.3 days. Approximately 5.2% of the company’s stock are short sold.

MGM Resorts International (NYSE:MGM) opened at 30.59 on Monday. The company has a 50 day moving average price of $32.31 and a 200 day moving average price of $29.94. MGM Resorts International has a 52 week low of $23.38 and a 52 week high of $34.53. The stock has a market cap of $17.60 billion, a price-to-earnings ratio of 18.11 and a beta of 1.48.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.03. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.67 billion. MGM Resorts International had a net margin of 9.26% and a return on equity of 7.97%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 earnings per share. Analysts expect that MGM Resorts International will post $1.24 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Monday, September 11th will be given a $0.11 dividend. The ex-dividend date is Friday, September 8th. This represents a $0.44 dividend on an annualized basis and a yield of 1.44%. MGM Resorts International’s payout ratio is currently 26.04%.

In other MGM Resorts International news, EVP Robert Selwood sold 10,046 shares of MGM Resorts International stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $31.56, for a total transaction of $317,051.76. Following the completion of the sale, the executive vice president now owns 116,743 shares of the company’s stock, valued at approximately $3,684,409.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Murren sold 57,269 shares of MGM Resorts International stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $33.05, for a total value of $1,892,740.45. Following the sale, the chief executive officer now directly owns 1,231,611 shares of the company’s stock, valued at approximately $40,704,743.55. The disclosure for this sale can be found here. Insiders sold a total of 141,329 shares of company stock valued at $4,546,246 in the last three months. Insiders own 12.20% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of MGM Resorts International by 9,411.8% in the first quarter. BlackRock Inc. now owns 22,704,066 shares of the company’s stock worth $622,092,000 after buying an additional 22,465,373 shares during the last quarter. Harris Associates L P increased its stake in shares of MGM Resorts International by 40.7% in the first quarter. Harris Associates L P now owns 23,573,669 shares of the company’s stock worth $645,919,000 after buying an additional 6,814,070 shares during the last quarter. Iridian Asset Management LLC CT purchased a new stake in shares of MGM Resorts International during the second quarter worth approximately $192,055,000. Vanguard Group Inc. increased its stake in shares of MGM Resorts International by 8.4% in the first quarter. Vanguard Group Inc. now owns 39,845,368 shares of the company’s stock worth $1,091,763,000 after buying an additional 3,096,490 shares during the last quarter. Finally, FMR LLC increased its stake in shares of MGM Resorts International by 66.7% in the second quarter. FMR LLC now owns 7,242,214 shares of the company’s stock worth $226,609,000 after buying an additional 2,897,242 shares during the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

A number of analysts have commented on the company. Deutsche Bank AG lifted their price target on MGM Resorts International from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $36.00 price target (up previously from $32.00) on shares of MGM Resorts International in a research report on Thursday, April 27th. CLSA reaffirmed an “outperform” rating on shares of MGM Resorts International in a research report on Friday, April 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $34.00 price target (up previously from $33.00) on shares of MGM Resorts International in a research report on Monday, July 10th. Finally, Instinet reaffirmed a “buy” rating and set a $35.00 price target (up previously from $34.00) on shares of MGM Resorts International in a research report on Saturday, April 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $34.81.

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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.

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