Originally Posted by
Daly
MGM Resorts International
MGM Resorts International (NYSE:MGM) President and Acting CEO William Hornbuckle bought 49,800 shares during the past week at the average price of $11.98.
MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market. The company's Vegas properties include MGM Grand, Mandalay Bay, Mirage, Luxor, New York-New York and a 50% ownership stake in CityCenter.
The company has a market cap of $5.21 billion. Its shares traded at $10.58 with a price-earnings ratio of 2.73 as of April 3. Fourth quarter 2019 net income was $2.0 billion compared to a net loss of $23 million in the prior year quarter.
Hornbuckle bought 8,500 shares on March 30 at a price of $11.76 and 41,300 shares on March 31 at a price of $12.02. The price of the stock has decreased by 11.98% since then.
Director Keith A. Meister bought 1,000,000 shares on March 31 at a price of $11.94 and 100,000 shares on April 1 at a price of $10.97. Since then, the price of the stock has decreased by 3.56%.
Director Paul J. Salem bought 340,000 shares on March 30 at a price of $11.54 and 182,000 shares on April 1 at a price of $10.87. The price of the stock has decreased by 2.67% since then.
Chief Financial Officer Corey Ian Sanders bought 24,991 shares on March 31 at a price of $12. Since then, the price of the stock has decreased by 11.83%.