MGM Stock – MGM Resorts International (NYSE:MGM) CEO William Hornbuckle Sells 20,000 Shares
MGM Resorts International (NYSE:MGM) CEO William Hornbuckle sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $44.00, for a total value of $880,000.00. Following the completion of the transaction, the chief executive officer now directly owns 224,748 shares of the company’s stock, valued at $9,888,912. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
William Hornbuckle also recently made the following trade(s):
- On Monday, May 3rd, William Hornbuckle sold 8,500 shares of MGM Resorts International stock. The shares were sold at an average price of $41.36, for a total value of $351,560.00.
- On Monday, April 5th, William Hornbuckle sold 10,000 shares of MGM Resorts International stock. The shares were sold at an average price of $41.10, for a total value of $411,000.00.
- On Thursday, April 1st, William Hornbuckle sold 40,000 shares of MGM Resorts International stock. The shares were sold at an average price of $38.13, for a total value of $1,525,200.00.
Shares of MGM stock traded down $0.62 on Wednesday, reaching $43.54. The company’s stock had a trading volume of 5,247,828 shares, compared to its average volume of 8,980,178. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.81 and a current ratio of 3.86. MGM Resorts International has a 12-month low of $14.65 and a 12-month high of $44.40. The company has a 50 day simple moving average of $40.91.
MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, April 28th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.86) by $0.18. MGM Resorts International had a negative return on equity of 17.93% and a negative net margin of 47.65%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the business posted $1.64 earnings per share. The firm’s revenue was down 27.1% compared to the same quarter last year. On average, sell-side analysts forecast that MGM Resorts International will post -1.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Thursday, June 10th will be given a $0.002 dividend. The ex-dividend date is Wednesday, June 9th. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.02%. MGM Resorts International’s dividend payout ratio (DPR) is presently -0.25%.
Several hedge funds have recently modified their holdings of the stock. Laurel Wealth Advisors Inc. raised its position in shares of MGM Resorts International by 2.8% in the first quarter. Laurel Wealth Advisors Inc. now owns 9,700 shares of the company’s stock worth $369,000 after buying an additional 265 shares in the last quarter. Parallel Advisors LLC raised its position in MGM Resorts International by 6.1% during the first quarter. Parallel Advisors LLC now owns 4,633 shares of the company’s stock valued at $176,000 after purchasing an additional 267 shares in the last quarter. Checchi Capital Advisers LLC raised its position in MGM Resorts International by 4.4% during the first quarter. Checchi Capital Advisers LLC now owns 6,825 shares of the company’s stock valued at $259,000 after purchasing an additional 285 shares in the last quarter. Cigna Investments Inc. New raised its position in MGM Resorts International by 2.3% during the first quarter. Cigna Investments Inc. New now owns 15,237 shares of the company’s stock valued at $579,000 after purchasing an additional 347 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in MGM Resorts International by 3.2% during the first quarter. Crossmark Global Holdings Inc. now owns 11,955 shares of the company’s stock valued at $454,000 after purchasing an additional 372 shares in the last quarter. Institutional investors own 61.45% of the company’s stock.
Several equities analysts have recently issued reports on the company. Jefferies Financial Group upped their target price on MGM Resorts International from $50.00 to $53.00 and gave the company a “buy” rating in a report on Thursday, April 29th. Argus raised MGM Resorts International from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a report on Monday, March 1st. Stifel Nicolaus increased their price objective on MGM Resorts International from $34.00 to $40.00 in a report on Thursday, February 11th. JPMorgan Chase & Co. raised MGM Resorts International from a “neutral” rating to an “overweight” rating and set a $47.00 price objective for the company in a report on Monday, May 24th. Finally, Morgan Stanley increased their price objective on MGM Resorts International from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Friday, April 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $35.67.
About MGM Resorts International
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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