Following this transaction William Hornbuckle’s holding in the company was increased by 13.66% to a total of $4.34 million. This is Hornbuckle’s first Buy trade following 3 Sell transactions.
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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.
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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.