Analysts Set MGM Resorts International (NYSE:MGM) Target Price at $48.83

MGM Resorts International (NYSE:MGM) has earned an average rating of “Moderate Buy” from the twenty-four analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $48.8333.

MGM has been the subject of several research analyst reports. Citizens Jmp lowered MGM Resorts International from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 26th. Citigroup upgraded MGM Resorts International from a “hold” rating to a “strong-buy” rating and increased their price objective for the stock from $55.00 to $57.00 in a report on Wednesday, July 9th. Wall Street Zen raised shares of MGM Resorts International from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. JMP Securities reaffirmed a “market perform” rating on shares of MGM Resorts International in a research report on Thursday, June 26th. Finally, Morgan Stanley boosted their price target on shares of MGM Resorts International from $38.00 to $41.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th.

MGM Resorts International Stock Down 0.1%

MGM stock opened at $35.98 on Monday. The stock has a fifty day moving average of $37.16 and a 200-day moving average of $33.74. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $42.53. The company has a market capitalization of $9.79 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.52 and a beta of 1.69. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.18 and a current ratio of 1.22.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, July 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.21. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.28 billion. MGM Resorts International had a net margin of 3.13% and a return on equity of 19.39%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.86 EPS. As a group, equities research analysts predict that MGM Resorts International will post 2.21 earnings per share for the current year.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $32.09, for a total value of $1,925,400.00. Following the completion of the transaction, the director owned 5,627,478 shares in the company, valued at $180,585,769.02. This trade represents a 1.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MGM Resorts International

Institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. grew its stake in shares of MGM Resorts International by 4.8% in the second quarter. Osaic Holdings Inc. now owns 96,666 shares of the company’s stock worth $3,323,000 after acquiring an additional 4,445 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of MGM Resorts International in the 2nd quarter worth about $214,000. B. Riley Wealth Advisors Inc. bought a new position in MGM Resorts International in the 2nd quarter worth about $519,000. State of Wyoming boosted its stake in MGM Resorts International by 63.8% in the 2nd quarter. State of Wyoming now owns 6,160 shares of the company’s stock worth $212,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in MGM Resorts International by 35.6% during the 2nd quarter. Geneos Wealth Management Inc. now owns 4,667 shares of the company’s stock valued at $160,000 after purchasing an additional 1,225 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

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.