Today, the CFO of MGM Resorts (MGM), Corey Ian Sanders, bought shares of MGM for $299.9K.
Following this transaction Corey Ian Sanders’ holding in the company was increased by 6.02% to a total of $5.17 million. In addition to Corey Ian Sanders, 3 other MGM executives reported Buy trades in the last month.
See today’s analyst top recommended stocks >>
Based on MGM Resorts’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $3.19 billion and quarterly net profit of $2.01 billion. In comparison, last year the company earned revenue of $3.05 billion and had a GAAP net loss of $23.33 million. The company has a one-year high of $34.64 and a one-year low of $5.91. MGM’s market cap is $5.68 billion and the company has a P/E ratio of 3.10.
Based on 12 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $32.70, reflecting a -63.5% downside. Five different firms, including Barclays and Citigroup, currently also have a Buy rating on the stock.
The insider sentiment on MGM Resorts has been negative according to 51 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.
Corey Ian Sanders’ trades have generated a 16.2% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. The firm’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China. The Las Vegas Strip Resorts segment consists of the following casino resorts: Bellagio, MGM Grand Las Vegas, Mandalay Bay, The Mirage, Luxor, New York-New, Excalibur, Park MGM, and Circus Las Vegas. The Regional Operations segment consists of the following casino resorts: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Mississippi; Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George’s County, Maryland; and MGM Springfield in Springfield, Massachusetts. The MGM China segment consists of MGM Macau and MGM Cotai. The company was founded by Kerkor Kerkorian on January 29, 1986 and is headquartered in Las Vegas, NV.
