CoreCap Advisors LLC bought a new position in shares of MGM Resorts International (NYSE:MGM – Get Rating) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,675 shares of the company’s stock, valued at approximately $90,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. McElhenny Sheffield Capital Management LLC purchased a new position in shares of MGM Resorts International during the fourth quarter valued at $34,000. Tobam purchased a new position in shares of MGM Resorts International during the fourth quarter valued at $34,000. Accurate Wealth Management LLC purchased a new position in shares of MGM Resorts International during the fourth quarter valued at $40,000. Neo Ivy Capital Management purchased a new position in shares of MGM Resorts International during the third quarter valued at $42,000. Finally, RFP Financial Group LLC purchased a new position in shares of MGM Resorts International during the fourth quarter valued at $49,000. 82.77% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, Director Alexis Herman sold 2,350 shares of MGM Resorts International stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $42.63, for a total transaction of $100,180.50. Following the completion of the sale, the director now owns 14,797 shares of the company’s stock, valued at $630,796.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Alexis Herman sold 2,350 shares of MGM Resorts International stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $42.63, for a total transaction of $100,180.50. Following the completion of the sale, the director now owns 14,797 shares of the company’s stock, valued at $630,796.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Corey Ian Sanders sold 50,000 shares of MGM Resorts International stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $44.42, for a total value of $2,221,000.00. Following the sale, the chief operating officer now directly owns 161,632 shares of the company’s stock, valued at approximately $7,179,693.44. The disclosure for this sale can be found here. Insiders sold 55,220 shares of company stock valued at $2,445,251 over the last quarter. 2.39% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
MGM Resorts International Price Performance
Shares of NYSE MGM opened at $40.39 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.15 and a current ratio of 2.19. The company has a market cap of $14.69 billion, a PE ratio of 8.63 and a beta of 2.06. The business has a 50-day simple moving average of $42.94 and a two-hundred day simple moving average of $40.47. MGM Resorts International has a fifty-two week low of $26.41 and a fifty-two week high of $46.37.
MGM Resorts International (NYSE:MGM – Get Rating) last issued its quarterly earnings results on Monday, May 1st. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.40. The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.61 billion. MGM Resorts International had a negative return on equity of 1.33% and a net margin of 13.84%. The company’s quarterly revenue was up 36.6% on a year-over-year basis. During the same quarter last year, the company earned $0.01 earnings per share. As a group, equities analysts expect that MGM Resorts International will post 1.89 EPS for the current fiscal year.
MGM Resorts International declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 8th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 12.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
About MGM Resorts International
MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. The firm’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China.
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