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

Shares of MGM Resorts International (NYSE:MGMGet Free Report) have received an average rating of “Moderate Buy” from the fifteen research firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $54.66.

MGM has been the topic of several recent research reports. Mizuho increased their price target on MGM Resorts International from $61.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Morgan Stanley raised their target price on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Susquehanna raised shares of MGM Resorts International from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $46.00 to $54.00 in a research note on Thursday, May 2nd. StockNews.com lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Finally, BTIG Research started coverage on MGM Resorts International in a research report on Wednesday, July 3rd. They set a “buy” rating and a $52.00 target price for the company.

Read Our Latest Report on MGM

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the transaction, the director now owns 5,859,478 shares of the company’s stock, valued at approximately $236,957,290.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Alexis Herman sold 4,344 shares of MGM Resorts International stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith A. Meister sold 139,300 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $40.44, for a total value of $5,633,292.00. Following the completion of the transaction, the director now directly owns 5,859,478 shares of the company’s stock, valued at approximately $236,957,290.32. The disclosure for this sale can be found here. Insiders sold a total of 147,988 shares of company stock valued at $5,991,759 over the last three months. 2.83% of the stock is owned by company insiders.

Institutional Trading of MGM Resorts International

A number of institutional investors have recently made changes to their positions in the company. CVA Family Office LLC purchased a new stake in shares of MGM Resorts International in the 4th quarter valued at $28,000. EverSource Wealth Advisors LLC increased its stake in MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after buying an additional 329 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of MGM Resorts International by 510.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after acquiring an additional 1,000 shares during the period. Accent Capital Management LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter worth about $45,000. Finally, Mendota Financial Group LLC raised its position in shares of MGM Resorts International by 36.0% in the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after buying an additional 266 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Stock Performance

Shares of NYSE:MGM opened at $43.74 on Wednesday. The firm has a fifty day simple moving average of $41.07 and a two-hundred day simple moving average of $42.84. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $13.72 billion, a P/E ratio of 16.82, a PEG ratio of 0.89 and a beta of 2.24.

MGM Resorts International (NYSE:MGMGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.56 by $0.18. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The firm’s revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. On average, analysts expect that MGM Resorts International will post 3.02 earnings per share for the current fiscal year.

MGM Resorts International Company Profile

(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.

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Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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