MGM Resorts International (MGM) EVP John Mcmanus Sells 10,000 Shares
MGM Resorts International (NYSE:MGM) EVP John Mcmanus sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $33.35, for a total transaction of $333,500.00. Following the transaction, the executive vice president now directly owns 54,337 shares in the company, valued at approximately $1,812,138.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
John Mcmanus also recently made the following trade(s):
- On Friday, September 8th, John Mcmanus sold 5,273 shares of MGM Resorts International stock. The stock was sold at an average price of $33.70, for a total transaction of $177,700.10.
Shares of MGM Resorts International (MGM) remained flat at $$33.00 during trading hours on Friday. The stock had a trading volume of 4,532,212 shares, compared to its average volume of 8,777,004. The stock has a market capitalization of $18,680.00, a P/E ratio of 29.07, a PEG ratio of 7.47 and a beta of 1.42. MGM Resorts International has a 1 year low of $25.15 and a 1 year high of $34.65. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 11th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $0.44 annualized dividend and a yield of 1.33%. MGM Resorts International’s dividend payout ratio is currently 43.14%.
MGM Resorts International announced that its Board of Directors has approved a share repurchase plan on Tuesday, September 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
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Several equities research analysts have recently issued reports on MGM shares. Stifel Nicolaus reissued a “buy” rating on shares of MGM Resorts International in a research report on Friday, September 1st. Roth Capital began coverage on shares of MGM Resorts International in a report on Wednesday, October 25th. They set a “buy” rating and a $38.00 price target for the company. Morgan Stanley set a $35.00 price target on shares of MGM Resorts International and gave the company a “buy” rating in a report on Friday, October 6th. Zacks Investment Research lowered shares of MGM Resorts International from a “hold” rating to a “sell” rating in a report on Wednesday, October 18th. Finally, Deutsche Bank AG lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating and set a $36.00 price target for the company. in a report on Monday, September 11th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $36.50.
Several hedge funds have recently made changes to their positions in MGM. Spirit of America Management Corp NY bought a new stake in MGM Resorts International during the 3rd quarter worth approximately $104,000. Sun Life Financial INC acquired a new position in MGM Resorts International during the 3rd quarter worth approximately $124,000. Pacad Investment Ltd. acquired a new position in MGM Resorts International during the 2nd quarter worth approximately $169,000. Toronto Dominion Bank boosted its position in MGM Resorts International by 12.4% during the 2nd quarter. Toronto Dominion Bank now owns 5,644 shares of the company’s stock worth $177,000 after acquiring an additional 624 shares during the last quarter. Finally, Colony Group LLC acquired a new position in MGM Resorts International during the 2nd quarter worth approximately $203,000. 76.63% of the stock is owned by institutional investors.
MGM Resorts International Company Profile
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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