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

Shares of MGM Resorts International (NYSE:MGM) have earned an average rating of “Hold” from the twenty research firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $41.9375.

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group reissued a “sell” rating and issued a $33.00 price target on shares of MGM Resorts International in a research note on Monday, December 15th. Truist Financial boosted their target price on MGM Resorts International from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MGM Resorts International in a research note on Monday, December 29th. Wells Fargo & Company increased their price target on shares of MGM Resorts International from $29.00 to $31.00 and gave the company an “underweight” rating in a research report on Friday, January 16th. 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

MGM Resorts International stock opened at $36.83 on Monday. The company has a market cap of $9.42 billion, a PE ratio of 49.11 and a beta of 1.38. The company has a current ratio of 1.23, a quick ratio of 1.20 and a debt-to-equity ratio of 1.91. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $40.16. The company’s 50-day moving average is $35.48 and its two-hundred day moving average is $34.95.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.96. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. Equities analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, major shareholder Iac Inc. acquired 1,098,748 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were acquired at an average price of $36.30 per share, with a total value of $39,884,552.40. Following the purchase, the insider owned 65,822,350 shares of the company’s stock, valued at $2,389,351,305. This represents a 1.70% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.06% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MGM Resorts International

Large investors have recently modified their holdings of the business. Helikon Investments Ltd raised its position in shares of 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 period. AQR Capital Management LLC raised its holdings in MGM Resorts International by 202.5% during the 3rd quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock worth $292,772,000 after buying an additional 5,654,757 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in MGM Resorts International by 81.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock valued at $264,874,000 after buying an additional 3,429,946 shares in the last quarter. Davis Selected Advisers boosted its holdings in shares of MGM Resorts International by 14.4% in the second quarter. Davis Selected Advisers now owns 23,821,109 shares of the company’s stock valued at $819,208,000 after buying an additional 3,006,052 shares during the period. Finally, Norges Bank bought a new stake in shares of MGM Resorts International during the fourth quarter worth $82,348,000. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Company Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.