MGM Resorts International (NYSE:MGM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of MGM Resorts International (NYSE:MGM) have been assigned an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $52.54.

MGM has been the subject of a number of recent analyst reports. JMP Securities decreased their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a research report on Monday, November 25th. Mizuho decreased their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Truist Financial dropped their target price on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Morgan Stanley increased 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 report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.13% of the stock is owned by insiders.

Institutional Investors Weigh In On MGM Resorts International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Oddo BHF Asset Management Sas acquired a new position in MGM Resorts International during the 3rd quarter valued at about $1,886,000. Synovus Financial Corp acquired a new position in shares of MGM Resorts International during the third quarter valued at approximately $309,000. Tidal Investments LLC raised its holdings in MGM Resorts International by 269.7% during the third quarter. Tidal Investments LLC now owns 33,050 shares of the company’s stock worth $1,292,000 after purchasing an additional 24,111 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in MGM Resorts International in the third quarter worth approximately $55,000. Finally, Sanctuary Advisors LLC boosted its stake in MGM Resorts International by 60.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 51,687 shares of the company’s stock valued at $1,954,000 after purchasing an additional 19,444 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $34.65 on Wednesday. MGM Resorts International has a 12-month low of $33.28 and a 12-month high of $48.24. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The company has a market capitalization of $10.32 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 3.10 and a beta of 2.20. The firm’s fifty day moving average price is $37.00 and its 200 day moving average price is $38.90.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. On average, research analysts forecast that MGM Resorts International will post 2.48 EPS for the current fiscal year.

About MGM Resorts International

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.