MGM Resorts International (NYSE:MGM) issued its earnings results on Thursday. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02), Briefing.com reports. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.21 billion. MGM Resorts International had a return on equity of 3.79% and a net margin of 1.56%. The business’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 EPS.

NYSE MGM traded up $1.10 during trading hours on Friday, hitting $30.47. The company had a trading volume of 12,595,124 shares, compared to its average volume of 4,716,250. The company has a current ratio of 0.78, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. MGM Resorts International has a 1-year low of $21.61 and a 1-year high of $31.68. The stock has a market cap of $16.37 billion, a P/E ratio of 30.78, a PEG ratio of 3.93 and a beta of 1.40. The firm has a 50 day moving average of $28.43.

A number of equities analysts recently commented on MGM shares. Nomura boosted their target price on shares of PROS from $77.00 to $79.00 and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley reiterated a “hold” rating and set a $20.10 target price on shares of ABB in a research note on Friday. Deutsche Bank downgraded shares of Hilton Hotels from a “buy” rating to a “hold” rating and set a $92.60 target price for the company. in a research note on Wednesday, May 1st. They noted that the move was a valuation call. JPMorgan Chase & Co. boosted their target price on shares of PROS from $55.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, ValuEngine upgraded shares of United Bancshares Inc. OH from a “sell” rating to a “hold” rating in a research note on Sunday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $31.33.

In related news, Director Paul J. Salem acquired 800,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was bought at an average price of $25.40 per share, for a total transaction of $20,320,000.00. Following the completion of the purchase, the director now directly owns 800,000 shares of the company’s stock, valued at approximately $20,320,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Keith A. Meister acquired 2,874,578 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was bought at an average price of $26.18 per share, with a total value of $75,256,452.04. The disclosure for this purchase can be found here. Insiders acquired 6,117,360 shares of company stock valued at $161,200,100 in the last 90 days. 3.47% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Personal Financial Services acquired a new position in MGM Resorts International in the first quarter valued at $26,000. Quadrant Capital Group LLC raised its holdings in shares of MGM Resorts International by 94.3% in the first quarter. Quadrant Capital Group LLC now owns 1,259 shares of the company’s stock valued at $29,000 after buying an additional 611 shares during the last quarter. Rational Advisors LLC raised its holdings in shares of MGM Resorts International by 1,113.8% in the first quarter. Rational Advisors LLC now owns 1,323 shares of the company’s stock valued at $34,000 after buying an additional 1,214 shares during the last quarter. Thor Advisors LLC purchased a new stake in shares of MGM Resorts International in the first quarter valued at about $35,000. Finally, Trust Co. of Vermont purchased a new stake in shares of MGM Resorts International in the second quarter valued at about $43,000. Institutional investors own 79.39% of the company’s stock.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates integrated 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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Earnings History for MGM Resorts International (NYSE:MGM)

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