The MGM Resorts International (MGM) Director Sells $215782.20 in Stock

Mae Love
March 19, 2018

Mgm Resorts International now has $19.68B valuation. Its 52-week high and low range is between $0.897 and $0.1. The company is scheduled to report its next quarterly earnings results on Thursday, April 26th. Victory Capital Management Inc. increased its position in shares of MGM Resorts International by 1,016.1% during the 3rd quarter. It has underperformed by 16.70% the S&P500.The move comes after 6 months positive chart setup for the $560.66 million company. Panagora Asset Mngmt owns 0% invested in MGM Resorts International (NYSE:MGM) for 16,794 shares. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. MGM Resorts had 60 analyst reports since August 5, 2015 according to SRatingsIntel.

According to 17 analysts, the Average Revenue Estimate for the current Fiscal quarter is $7.29 Billion and the Low Revenue estimate is $6.74 Billion, while the High Revenue estimate is $7.65 Billion. That activity is comparable to their recent volume average trend of almost 1.33 million shares which they recorded over a period of three months. During the same period a year ago, the firm posted $0.11 EPS.

MGM Resorts International, formerly known as MGM MIRAGE, is a global hospitality company, operating a portfolio of destination resort brands, including Bellagio, MGM Grand, Mandalay Bay and The Mirage. Natl Pension reported 0.09% in MGM Resorts International (NYSE:MGM). They set a "buy" rating and a $43.00 price objective on the stock. Barclays raised their price target on MGM Resorts International from $37.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, February 23rd. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $44.00 target price (up from $41.00) on shares of MGM Resorts International in a research report on Tuesday, January 9th. Goldman Sachs maintained the shares of MGM in report on Wednesday, April 5 with "Buy" rating. Stifel Nicolaus maintained MGM Resorts International (NYSE:MGM) rating on Tuesday, November 8. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. The company now has a consensus rating of "Buy" and a consensus target price of $37.94.

Shares of MGM Resorts International (NYSE:MGM) traded up $0.11 during trading on Wednesday, hitting $34.86. 950,516 shares of the stock were exchanged, compared to its average volume of 8,325,308. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 1.09. MGM Resorts International has a fifty-two week low of $25.15 and a fifty-two week high of $38.41. Blue Ridge Capital Llc sold 43,800 shares as the company's stock rose 17.48% with the market. Stockholders of record on Friday, March 9th will be paid a $0.12 dividend. Ny State Common Retirement Fund reported 0.06% in MGM Resorts International (NYSE:MGM). The ex-dividend date is Thursday, March 8th. Its down 0.58, from 1.53 in 2017Q2. MGM Resorts International's dividend payout ratio is 47.31%. Also, CFO Daniel D'arrigo sold 36,366 shares of the business's stock in a transaction that occurred on Friday, February 23rd. Toscafund Asset Management Llp sold 675,000 shares as the company's stock declined 6.00% while stock markets rallied. Following the sale, the director now owns 27,081 shares of the company's stock, valued at approximately $933,482.07.

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MGM Resorts International (NYSE:MGM) Director William A. Bible sold 6,260 shares of the firm's stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $34.78, for a total value of $1,264,809.48. The disclosure for this sale can be found here. Knott David M acquired 5,000 shares as The Howard Hughes Corporation (HHC)'s stock rose 10.78%. Institutional investors own 81.98% of the company's stock. Concourse Capital Management LLC boosted its position in shares of MGM Resorts International by 0.7% in the 3rd quarter.

According to the Recommendation Trends of the stock polled by Zacks Investment Research for this month, the company has a consensus recommendation of 2.2 out of the scale from 1 to 5 where 1 stands for Strong Buy and 5 means Strong Sell. Stifel Nicolaus restated a "hold" rating and issued a $36.00 price target (up previously from $33.00) on shares of MGM Resorts International in a report on Thursday, November 9th. Concourse Capital Management LLC now owns 294,434 shares of the company's stock worth $9,596,000 after buying an additional 2,018 shares in the last quarter. Janus Henderson Group PLC now owns 1,106,856 shares of the company's stock worth $34,634,000 after purchasing an additional 1,053,597 shares during the last quarter. $553,133 worth of MGM Resorts International (NYSE:MGM) was sold by SANDERS COREY IAN. Finally, Bank of New York Mellon Corp increased its holdings in shares of MGM Resorts International by 70.3% in the third quarter. Bank of New York Mellon Corp now owns 3,199,526 shares of the company's stock worth $104,272,000 after purchasing an additional 1,320,446 shares in the last quarter.

TRADEMARK VIOLATION WARNING: This piece was published by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of US & worldwide copyright and trademark law. The legal version of this piece can be viewed at https://stocknewstimes.com/2018/03/07/mgm-resorts-international-mgm-shares-bought-by-first-trust-advisors-lp.html. Through its hospitality management subsidiary, the Company holds a growing number of development and management agreements for casino and non-casino resort projects around the world.

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