A Director at MGM Resorts (NYSE: MGM) is Selling SharesBy Carrie Williams
In addition to Mary Christine Gay, 13 other MGM executives reported Sell trades in the last month. Following Mary Christine Gay’s last MGM Sell transaction on June 14, 2016, the stock climbed by 2.9%.
Based on MGM Resorts’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $2.46 billion and quarterly net profit of $24.64 million. In comparison, last year the company earned revenue of $2.19 billion and had a GAAP net loss of $781 million. The company has a one year high of $30.62 and a one year low of $20.14. MGM’s market cap is $15.4B and the company has a P/E ratio of 13.95.
Based on 7 analyst ratings, the analyst consensus is Strong Buy with an average price target of $36.00, reflecting a -25.6% downside. Three different firms, including Citigroup and Janney Montgomery, currently also have a Sell rating on the stock.
In the last 30 days, insiders have sold $293.5M worth of MGM shares and purchased $1.97M worth of MGM shares. The insider sentiment on MGM Resorts has been negative according to 72 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.
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MGM Resorts International is a holding company that engages in the ownership and operations of casino resorts, which offers gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through Wholly Owned Domestic Resorts, and MGM China segments. The Wholly Owned Domestic Resorts segment is the resorts owned by the company in the United States. The MGM China Segment is consist of operations of MGM Macau Resort and development of MGM Cotai. The company was founded by Kerkor Kerkorian on January 29, 1986 and is headquartered in Las Vegas, NV.