MGM Resorts International (NYSE:MGM) CEO William Hornbuckle Buys 58,900 Shares

MGM Resorts International (NYSE:MGM) CEO William Hornbuckle purchased 58,900 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $33.73 per share, with a total value of $1,986,697.00. Following the completion of the transaction, the chief executive officer now directly owns 377,112 shares of the company’s stock, valued at $12,719,987.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

MGM Resorts International Price Performance

Shares of NYSE MGM traded up $1.34 during mid-day trading on Tuesday, reaching $35.41. 7,290,656 shares of the company traded hands, compared to its average volume of 3,952,521. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.46. The firm has a market cap of $11.11 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 0.77 and a beta of 2.24. The stock has a fifty day simple moving average of $41.92 and a 200-day simple moving average of $42.69.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. The firm had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. Equities research analysts anticipate that MGM Resorts International will post 3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Susquehanna upped their price target on MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on MGM Resorts International from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Macquarie decreased their price target on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Wells Fargo & Company decreased their price target on MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

Hedge Funds Weigh In On MGM Resorts International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in shares of MGM Resorts International during the 2nd quarter valued at $28,000. EverSource Wealth Advisors LLC boosted its stake in shares of MGM Resorts International by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after buying an additional 329 shares during the period. UMB Bank n.a. boosted its stake in shares of MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares during the period. Accent Capital Management LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter valued at $45,000. Finally, Mendota Financial Group LLC boosted its stake in shares of MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after buying an additional 266 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. 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.