MGM Resorts International (NYSE:MGM) saw some unusual options trading activity on Monday. Investors purchased 25,657 put options on the stock. This is an increase of 317% compared to the typical daily volume of 6,159 put options.

In other MGM Resorts International news, Director Alexis Herman sold 3,745 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $32.51, for a total transaction of $121,749.95. Following the sale, the director now directly owns 8,285 shares of the company’s stock, valued at approximately $269,345.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Murren sold 57,269 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $33.05, for a total transaction of $1,892,740.45. Following the sale, the chief executive officer now directly owns 1,231,611 shares in the company, valued at $40,704,743.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 819,831 shares of company stock worth $27,686,927. Company insiders own 12.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. World Asset Management Inc increased its stake in shares of MGM Resorts International by 0.5% during the 2nd quarter. World Asset Management Inc now owns 19,646 shares of the company’s stock worth $615,000 after purchasing an additional 91 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of MGM Resorts International by 0.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 34,213 shares of the company’s stock worth $937,000 after purchasing an additional 140 shares during the last quarter. Calamos Wealth Management LLC increased its stake in shares of MGM Resorts International by 0.5% during the 2nd quarter. Calamos Wealth Management LLC now owns 52,540 shares of the company’s stock worth $1,644,000 after purchasing an additional 257 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of MGM Resorts International by 3.4% during the 1st quarter. Pacer Advisors Inc. now owns 9,269 shares of the company’s stock worth $254,000 after purchasing an additional 302 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of MGM Resorts International by 3.2% during the 2nd quarter. Nordea Investment Management AB now owns 15,493 shares of the company’s stock worth $485,000 after purchasing an additional 475 shares during the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

MGM has been the topic of several recent analyst reports. Instinet reissued a “buy” rating and set a $40.00 target price (up from $35.00) on shares of MGM Resorts International in a research note on Monday, June 19th. BidaskClub downgraded shares of MGM Resorts International from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 1st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $34.00 price target on shares of MGM Resorts International in a research note on Monday, July 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $34.00 price target (up from $33.00) on shares of MGM Resorts International in a research note on Monday, July 10th. Finally, UBS AG reaffirmed a “buy” rating on shares of MGM Resorts International in a research note on Monday, July 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. MGM Resorts International has a consensus rating of “Buy” and a consensus target price of $35.50.

Shares of MGM Resorts International (MGM) opened at 30.75 on Thursday. The company has a market capitalization of $17.69 billion, a PE ratio of 18.21 and a beta of 1.46. The company has a 50-day moving average of $32.15 and a 200-day moving average of $31.17. MGM Resorts International has a one year low of $25.15 and a one year high of $34.65.

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 consensus estimate of $0.28 by $0.03. MGM Resorts International had a net margin of 9.26% and a return on equity of 7.97%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the previous year, the business earned $0.29 EPS. The company’s revenue was up 16.4% compared to the same quarter last year. On average, analysts anticipate that MGM Resorts International will post $1.29 earnings per share for the current year.

MGM Resorts International announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, September 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Monday, September 11th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.44 annualized dividend and a yield of 1.43%. MGM Resorts International’s payout ratio is currently 26.04%.

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MGM Resorts International Company Profile

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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