Analysts Set MGM Resorts International (NYSE:MGM) Target Price at $51.83

MGM Resorts International (NYSE:MGMGet Rating) has received an average recommendation of “Hold” from the eighteen brokerages that are presently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $51.83.

A number of equities analysts have commented on the stock. Truist Financial boosted their price target on shares of MGM Resorts International from $35.00 to $40.00 in a research report on Thursday, August 4th. Citigroup raised their price target on MGM Resorts International from $58.00 to $58.50 and gave the company a “buy” rating in a report on Monday, September 26th. Deutsche Bank Aktiengesellschaft reduced their price objective on MGM Resorts International from $51.00 to $49.00 in a research note on Thursday, November 3rd. Argus lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Thursday, September 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of MGM Resorts International from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Thursday, November 3rd.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, COO Corey Ian Sanders sold 10,000 shares of MGM Resorts International stock in a transaction on Monday, October 31st. The shares were sold at an average price of $36.21, for a total transaction of $362,100.00. Following the completion of the sale, the chief operating officer now owns 331,498 shares of the company’s stock, valued at approximately $12,003,542.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other MGM Resorts International news, COO Corey Ian Sanders sold 10,000 shares of the stock in a transaction on Monday, October 31st. The shares were sold at an average price of $36.21, for a total value of $362,100.00. Following the sale, the chief operating officer now directly owns 331,498 shares in the company, valued at $12,003,542.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rose Mckinney-James sold 5,741 shares of MGM Resorts International stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $37.50, for a total value of $215,287.50. Following the transaction, the director now owns 5,740 shares in the company, valued at $215,250. The disclosure for this sale can be found here. Insiders have sold 35,741 shares of company stock worth $1,337,388 over the last ninety days. Company insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

Several hedge funds and other institutional investors have recently modified their holdings of the company. Koshinski Asset Management Inc. bought a new stake in shares of MGM Resorts International in the third quarter worth $1,034,000. First Horizon Advisors Inc. lifted its position in MGM Resorts International by 715.4% during the 1st quarter. First Horizon Advisors Inc. now owns 742 shares of the company’s stock worth $31,000 after buying an additional 651 shares in the last quarter. Heritage Wealth Management LLC acquired a new position in shares of MGM Resorts International during the 2nd quarter worth about $25,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of MGM Resorts International in the 1st quarter valued at about $38,000. Finally, Ellevest Inc. increased its position in shares of MGM Resorts International by 70.4% in the second quarter. Ellevest Inc. now owns 1,072 shares of the company’s stock valued at $31,000 after acquiring an additional 443 shares during the last quarter. Institutional investors and hedge funds own 67.54% of the company’s stock.

MGM Resorts International Stock Down 0.8 %

Shares of NYSE:MGM opened at $36.74 on Friday. The company’s fifty day moving average is $33.39 and its 200-day moving average is $32.88. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.47 and a current ratio of 1.49. MGM Resorts International has a 52 week low of $26.41 and a 52 week high of $49.00. The company has a market capitalization of $14.11 billion, a PE ratio of 12.58 and a beta of 2.06.

MGM Resorts International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, December 9th will be paid a dividend of $0.0025 per share. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, December 8th. MGM Resorts International’s dividend payout ratio (DPR) is 0.34%.

MGM Resorts International Company Profile

(Get Rating)

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

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Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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