MGM Resorts International (NYSE:MGM) Director Rose Mckinney-James sold 3,097 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $33.83, for a total value of $104,771.51. Following the sale, the director now owns 10,724 shares in the company, valued at $362,792.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of MGM Resorts International (NYSE MGM) traded down 1.86% during mid-day trading on Friday, hitting $33.25. The stock had a trading volume of 8,154,143 shares. The stock has a 50 day moving average price of $32.24 and a 200 day moving average price of $30.37. The firm has a market cap of $19.13 billion, a PE ratio of 19.69 and a beta of 1.48. MGM Resorts International has a 52 week low of $24.26 and a 52 week high of $34.65. MGM Resorts International also saw some unusual options trading on Thursday. Stock investors purchased 28,097 call options on the stock. This represents an increase of approximately 322% compared to the typical daily volume of 6,660 call options.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.03. MGM Resorts International had a return on equity of 7.97% and a net margin of 9.26%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter last year, the company posted $0.29 EPS. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. Equities research analysts expect that MGM Resorts International will post $1.29 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 dividend of $0.11 per share. The ex-dividend date is Friday, September 8th. This represents a $0.44 dividend on an annualized basis and a yield of 1.32%. MGM Resorts International’s dividend payout ratio is currently 26.04%.

MGM Resorts International announced that its Board of Directors has authorized a share repurchase program on Tuesday, September 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

TRADEMARK VIOLATION WARNING: “Rose Mckinney-James Sells 3,097 Shares of MGM Resorts International (MGM) Stock” was first posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece can be read at https://www.americanbankingnews.com/2017/09/08/rose-mckinney-james-sells-3097-shares-of-mgm-resorts-international-mgm-stock.html.

MGM has been the topic of a number of research reports. Zacks Investment Research cut MGM Resorts International from a “hold” rating to a “sell” rating in a research report on Wednesday, June 28th. Morgan Stanley reiterated an “overweight” rating and issued a $34.00 price target (up from $33.00) on shares of MGM Resorts International in a research report on Monday, July 10th. Deutsche Bank AG reiterated a “buy” rating and issued a $34.00 price target on shares of MGM Resorts International in a research report on Monday, July 3rd. Telsey Advisory Group upped their price target on MGM Resorts International from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Finally, UBS AG reiterated a “buy” rating on shares of MGM Resorts International in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have issued a buy rating to the company. MGM Resorts International presently has an average rating of “Buy” and an average price target of $34.81.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in MGM Resorts International by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 41,200,270 shares of the company’s stock worth $1,289,156,000 after acquiring an additional 1,354,902 shares during the last quarter. Capital Research Global Investors grew its position in MGM Resorts International by 1.9% during the 2nd quarter. Capital Research Global Investors now owns 32,282,000 shares of the company’s stock worth $1,010,104,000 after acquiring an additional 600,000 shares during the last quarter. BlackRock Inc. grew its position in MGM Resorts International by 9,411.8% during the 1st quarter. BlackRock Inc. now owns 22,704,066 shares of the company’s stock worth $622,092,000 after acquiring an additional 22,465,373 shares during the last quarter. Canyon Capital Advisors LLC grew its position in MGM Resorts International by 8.9% during the 2nd quarter. Canyon Capital Advisors LLC now owns 19,402,345 shares of the company’s stock worth $607,099,000 after acquiring an additional 1,583,585 shares during the last quarter. Finally, State Street Corp grew its position in MGM Resorts International by 1.0% during the 2nd quarter. State Street Corp now owns 8,934,495 shares of the company’s stock worth $279,564,000 after acquiring an additional 92,329 shares during the last quarter. Institutional investors and hedge funds own 75.22% of the company’s stock.

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.

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

Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with MarketBeat.com's FREE daily email newsletter.