MGM Resorts International (NYSE:MGM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of MGM Resorts International (NYSE:MGMGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, MarketBeat 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 price target among analysts that have covered the stock in the last year is $55.28.

MGM has been the topic of several analyst reports. Morgan Stanley increased their target price on MGM Resorts International from $44.00 to $45.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 28th. Bank Of America (Bofa) upped their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. JMP Securities restated a “market outperform” rating and set a $57.00 target price on shares of MGM Resorts International in a research note on Wednesday, February 14th. Mizuho began coverage on MGM Resorts International in a research note on Tuesday, March 26th. They issued a “buy” rating and a $61.00 price target on the stock. Finally, StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Monday, March 4th.

Read Our Latest Report on MGM Resorts International

MGM Resorts International Price Performance

NYSE:MGM opened at $47.21 on Monday. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35. The firm has a market capitalization of $14.97 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 1.56 and a beta of 2.18. The stock’s 50 day moving average price is $43.77 and its two-hundred day moving average price is $41.26. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46.

MGM Resorts International (NYSE:MGMGet Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.39. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share. On average, analysts anticipate that MGM Resorts International will post 2.53 earnings per share for the current year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the transaction, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MGM. BlackRock Inc. grew its position in shares of MGM Resorts International by 1.3% during the 2nd quarter. BlackRock Inc. now owns 22,227,721 shares of the company’s stock worth $976,241,000 after buying an additional 290,839 shares during the period. Bamco Inc. NY increased its stake in MGM Resorts International by 4.5% in the third quarter. Bamco Inc. NY now owns 1,912,447 shares of the company’s stock valued at $70,302,000 after purchasing an additional 82,134 shares in the last quarter. Black Swift Group LLC boosted its position in shares of MGM Resorts International by 133.3% during the 3rd quarter. Black Swift Group LLC now owns 105,000 shares of the company’s stock worth $3,860,000 after purchasing an additional 60,000 shares in the last quarter. Boston Partners increased its position in MGM Resorts International by 1,447.6% in the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after buying an additional 3,723,659 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of MGM Resorts International by 544.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock worth $73,364,000 after purchasing an additional 1,686,267 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

About MGM Resorts International

(Get Free Report

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.

Further Reading

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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