MGM Resorts International Target of Unusually Large Options Trading (NYSE:MGM)

MGM Resorts International (NYSE:MGMGet Rating) saw some unusual options trading on Wednesday. Investors purchased 13,107 put options on the company. This is an increase of approximately 61% compared to the typical daily volume of 8,155 put options.

Wall Street Analyst Weigh In

Several analysts have recently commented on MGM shares. Argus lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Thursday, September 8th. JMP Securities began coverage on shares of MGM Resorts International in a report on Tuesday, June 28th. They issued an “outperform” rating and a $55.00 price target on the stock. Credit Suisse Group cut their target price on shares of MGM Resorts International from $76.00 to $72.00 and set an “outperform” rating on the stock in a research note on Thursday, August 4th. Deutsche Bank Aktiengesellschaft raised their target price on shares of MGM Resorts International from $48.00 to $51.00 in a research note on Thursday, August 4th. Finally, StockNews.com downgraded shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Friday, July 15th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $52.93.

MGM Resorts International Trading Down 6.6 %

NYSE MGM opened at $30.61 on Friday. MGM Resorts International has a one year low of $26.41 and a one year high of $51.17. The company has a 50-day simple moving average of $33.39 and a 200-day simple moving average of $35.27. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.63 and a current ratio of 1.65. The firm has a market capitalization of $12.03 billion, a PE ratio of 4.29 and a beta of 2.11.

MGM Resorts International (NYSE:MGMGet Rating) last posted its earnings results on Wednesday, August 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.21). The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.03 billion. MGM Resorts International had a net margin of 27.33% and a return on equity of 1.44%. On average, equities analysts forecast that MGM Resorts International will post 0.04 earnings per share for the current year.

MGM Resorts International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, September 9th were paid a dividend of $0.0025 per share. This represents a $0.01 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Thursday, September 8th. MGM Resorts International’s payout ratio is 0.14%.

Insider Buying and Selling at MGM Resorts International

In other news, COO Corey Ian Sanders sold 10,000 shares of the company’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $36.00, for a total transaction of $360,000.00. Following the sale, the chief operating officer now owns 280,273 shares of the company’s stock, valued at $10,089,828. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other MGM Resorts International news, Director Janet Swartz bought 14,230 shares of MGM Resorts International stock in a transaction dated Thursday, August 25th. The stock was acquired at an average cost of $35.05 per share, with a total value of $498,761.50. Following the completion of the acquisition, the director now owns 19,858 shares of the company’s stock, valued at $696,022.90. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Corey Ian Sanders sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $36.00, for a total transaction of $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 280,273 shares of the company’s stock, valued at $10,089,828. The disclosure for this sale can be found here. Insiders have bought a total of 590,030 shares of company stock valued at $20,493,524 over the last quarter. 2.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Chilton Capital Management LLC bought a new stake in shares of MGM Resorts International during the 4th quarter worth about $25,000. Heritage Wealth Management LLC bought a new stake in shares of MGM Resorts International in the 2nd quarter worth approximately $25,000. Capital Advisory Group Advisory Services LLC bought a new stake in shares of MGM Resorts International in the 1st quarter worth approximately $29,000. First Horizon Advisors Inc. raised its holdings in shares of MGM Resorts International by 715.4% in the 1st quarter. First Horizon Advisors Inc. now owns 742 shares of the company’s stock worth $31,000 after purchasing an additional 651 shares in the last quarter. Finally, Ellevest Inc. raised its holdings in shares of MGM Resorts International by 70.4% in the 2nd quarter. Ellevest Inc. now owns 1,072 shares of the company’s stock worth $31,000 after purchasing an additional 443 shares in the last quarter. 67.54% of the stock is owned by institutional investors and hedge funds.

About MGM Resorts International

(Get Rating)

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

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