MGM Resorts International (MGM) President William Hornbuckle Sells 46,772 Shares of Stock
MGM Resorts International (NYSE:MGM) President William Hornbuckle sold 46,772 shares of the business’s stock in a transaction dated Tuesday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $1,356,388.00. Following the transaction, the president now owns 135,141 shares in the company, valued at $3,919,089. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
William Hornbuckle also recently made the following trade(s):
- On Wednesday, November 9th, William Hornbuckle sold 26,225 shares of MGM Resorts International stock. The stock was sold at an average price of $28.56, for a total transaction of $748,986.00.
MGM Resorts International (NYSE:MGM) opened at 28.71 on Thursday. MGM Resorts International has a one year low of $16.18 and a one year high of $29.35. The stock has a 50 day moving average of $26.99 and a 200 day moving average of $24.81. The firm has a market cap of $16.46 billion, a PE ratio of 55.00 and a beta of 1.79.
MGM Resorts International (NYSE:MGM) last released its earnings results on Monday, November 7th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.47. MGM Resorts International had a net margin of 3.15% and a return on equity of 6.45%. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same period last year, the company earned $0.15 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. On average, equities analysts forecast that MGM Resorts International will post $1.16 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its stake in MGM Resorts International by 57.1% in the third quarter. Toronto Dominion Bank now owns 3,902 shares of the company’s stock valued at $102,000 after buying an additional 1,418 shares in the last quarter. Global X Management Co. LLC raised its position in MGM Resorts International by 155.2% in the second quarter. Global X Management Co. LLC now owns 4,551 shares of the company’s stock valued at $103,000 after buying an additional 2,768 shares during the last quarter. BKS Advisors LLC acquired a new position in MGM Resorts International during the third quarter valued at approximately $143,000. Mizuho Asset Management Co. Ltd. raised its position in MGM Resorts International by 146.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 6,894 shares of the company’s stock valued at $156,000 after buying an additional 4,095 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in MGM Resorts International during the second quarter valued at approximately $182,000. 71.16% of the stock is currently owned by institutional investors and hedge funds.
MGM has been the topic of a number of recent research reports. restated an “overweight” rating and set a $29.00 price target on shares of MGM Resorts International in a research report on Tuesday, September 20th. Buckingham Research started coverage on shares of MGM Resorts International in a research note on Thursday, August 11th. They set a “buy” rating and a $31.00 target price on the stock. Gabelli reaffirmed a “buy” rating on shares of MGM Resorts International in a research note on Monday, October 17th. Macquarie reaffirmed an “outperform” rating and set a $34.00 target price on shares of MGM Resorts International in a research note on Thursday, November 10th. Finally, Telsey Advisory Group lifted their target price on shares of MGM Resorts International from $29.00 to $33.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 8th. Twenty-three analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. MGM Resorts International currently has a consensus rating of “Buy” and an average price target of $30.63.
About MGM Resorts International
MGM Resorts International is a holding company. The Company owns and operates casino resorts. It operates in two segments: wholly owned domestic resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail and other resort amenities. It has additional business activities, including its investments in unconsolidated affiliates, and other corporate and management operations.
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