The President of MGM Resorts (NYSE: MGM) is Selling Shares

By Carrie Williams

Today, the President of MGM Resorts (NYSE: MGM), William Hornbuckle, sold shares of MGM for $2.18M.

Following William Hornbuckle’s last MGM Sell transaction on March 05, 2014, the stock climbed by 8.1%.

Based on MGM Resorts’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $2.6 billion and quarterly net profit of $1.38 billion. In comparison, last year the company earned revenue of $2.46 billion and had a net profit of $24.64 million. The company has a one-year high of $38.41 and a one-year low of $25.21. MGM’s market cap is $20.82B and the company has a P/E ratio of 10.59.

Based on 8 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $39.86, reflecting a -10.2% downside. Three different firms, including Citigroup and Janney Montgomery, currently also have a Sell rating on the stock.

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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.