MGM Resorts International (NYSE:MGM) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of MGM Resorts International (NYSE:MGM) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $51.29.

Several research analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Morgan Stanley raised their price objective on MGM Resorts International from $39.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, February 24th. Macquarie reissued an “outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a report on Thursday, February 13th. Argus upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Friday, February 14th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th.

MGM Resorts International Stock Down 4.0 %

Shares of NYSE MGM opened at $28.74 on Friday. The business has a 50-day moving average of $32.75 and a two-hundred day moving average of $35.30. The company has a market capitalization of $8.13 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $47.26. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. On average, analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The shares were bought at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the transaction, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.83% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

Several hedge funds have recently bought and sold shares of MGM. Global Trust Asset Management LLC acquired a new stake in MGM Resorts International in the fourth quarter valued at $28,000. Assetmark Inc. grew its stake in MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after acquiring an additional 411 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new position in MGM Resorts International during the 4th quarter valued at about $28,000. True Wealth Design LLC acquired a new position in MGM Resorts International during the fourth quarter worth about $33,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of MGM Resorts International by 47.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after purchasing an additional 404 shares in the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

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.