MGM Resorts International (NYSE:MGM) Receives Consensus Rating of “Hold” from Analysts

MGM Resorts International (NYSE:MGM) has earned a consensus recommendation of “Hold” from the twenty-five research firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $45.5278.

Several research firms have weighed in on MGM. Macquarie dropped their price target on MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating for the company in a research report on Thursday, October 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of MGM Resorts International in a research note on Monday. Zacks Research cut shares of MGM Resorts International from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 4th. UBS Group lowered their price target on shares of MGM Resorts International from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Monday, November 17th. Finally, Capital One Financial reduced their price objective on shares of MGM Resorts International from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, December 5th.

MGM Resorts International Stock Performance

NYSE:MGM opened at $36.78 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $10.06 billion, a P/E ratio of 229.86, a price-to-earnings-growth ratio of 2.77 and a beta of 1.48. The firm has a 50-day moving average price of $33.32 and a two-hundred day moving average price of $34.92. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $41.32.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.13). MGM Resorts International had a net margin of 0.40% and a return on equity of 17.23%. The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the prior year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, research analysts expect that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, major shareholder Iac Inc. acquired 1,098,748 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were acquired at an average price of $36.30 per share, for a total transaction of $39,884,552.40. Following the completion of the acquisition, the insider directly owned 65,822,350 shares of the company’s stock, valued at $2,389,351,305. This trade represents a 1.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.06% of the stock is currently owned by corporate insiders.

Institutional Trading of MGM Resorts International

A number of hedge funds have recently added to or reduced their stakes in the business. Davis Selected Advisers increased its stake in shares of MGM Resorts International by 14.4% during the 2nd quarter. Davis Selected Advisers now owns 23,821,109 shares of the company’s stock valued at $819,208,000 after acquiring an additional 3,006,052 shares during the last quarter. Vanguard Group Inc. grew its holdings in MGM Resorts International by 1.5% in the third quarter. Vanguard Group Inc. now owns 23,576,877 shares of the company’s stock valued at $817,175,000 after purchasing an additional 340,629 shares during the period. Helikon Investments Ltd increased its position in MGM Resorts International by 379.9% during the second quarter. Helikon Investments Ltd now owns 8,810,322 shares of the company’s stock worth $302,987,000 after purchasing an additional 6,974,347 shares during the last quarter. AQR Capital Management LLC raised its stake in MGM Resorts International by 202.5% during the third quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock worth $292,772,000 after purchasing an additional 5,654,757 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in MGM Resorts International by 81.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock worth $264,874,000 after purchasing an additional 3,429,946 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

About MGM Resorts International

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.