MGM Resorts International (NYSE:MGM) Receives $51.93 Average Price Target from Brokerages

Shares of MGM Resorts International (NYSE:MGM) have been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $51.93.

A number of analysts have weighed in on the stock. JMP Securities reissued a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, January 16th. Truist Financial dropped their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Wells Fargo & Company lowered their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Morgan Stanley upped their target price on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Mizuho lowered their target price on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st.

Insiders Place Their Bets

In related news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC lifted its stake in MGM Resorts International by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock worth $177,777,000 after purchasing an additional 90,645 shares in the last quarter. Goldentree Asset Management LP raised its position in shares of MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after buying an additional 1,390,599 shares in the last quarter. HG Vora Capital Management LLC bought a new stake in MGM Resorts International during the third quarter valued at $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in MGM Resorts International by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock worth $89,832,000 after buying an additional 123,124 shares in the last quarter. Finally, FMR LLC increased its stake in MGM Resorts International by 5.0% in the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company’s stock worth $65,738,000 after acquiring an additional 79,486 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Up 1.7 %

Shares of NYSE MGM opened at $34.60 on Friday. The firm has a 50 day moving average price of $34.86 and a two-hundred day moving average price of $37.48. The stock has a market cap of $10.30 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 3.06 and a beta of 2.21. MGM Resorts International has a 52-week low of $31.61 and a 52-week high of $48.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the firm posted $0.64 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities analysts forecast that MGM Resorts International will post 2.41 EPS 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.