MGM Resorts International (NYSE:MGM) Receives Average Rating of “Moderate Buy” from Analysts

MGM Resorts International (NYSE:MGM) has been assigned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $52.85.

Several equities research analysts recently issued reports on the company. UBS Group upgraded MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Morgan Stanley boosted their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lowered their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Truist Financial cut their target price on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the sale, the director now owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MGM. International Assets Investment Management LLC purchased a new position in shares of MGM Resorts International during the second quarter worth approximately $28,000. MidAtlantic Capital Management Inc. purchased a new position in MGM Resorts International during the 3rd quarter worth $28,000. Eastern Bank acquired a new position in MGM Resorts International in the third quarter valued at $35,000. UMB Bank n.a. raised its holdings in shares of MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of MGM Resorts International during the third quarter worth about $44,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Stock Up 1.2 %

Shares of MGM opened at $36.94 on Friday. The company’s 50-day moving average price is $38.51 and its 200 day moving average price is $39.41. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The firm has a market cap of $11.00 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 3.13 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that MGM Resorts International will post 2.48 earnings per share for the current year.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. 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.