MGM Resorts International (NYSE:MGM) Receives $41.94 Consensus PT from Analysts

Shares of MGM Resorts International (NYSE:MGM) have received an average recommendation of “Hold” from the twenty brokerages that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $41.9375.

A number of brokerages have issued reports on MGM. Zacks Research upgraded shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Weiss Ratings restated a “sell (d)” rating on shares of MGM Resorts International in a research report on Monday, December 29th. Wells Fargo & Company upped their target price on MGM Resorts International from $29.00 to $31.00 and gave the company an “underweight” rating in a research note on Friday, January 16th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $33.00 target price on shares of MGM Resorts International in a report on Monday, December 15th.

MGM Resorts International Trading Up 0.2%

Shares of MGM stock opened at $36.39 on Friday. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $40.16. The stock has a market cap of $9.31 billion, a P/E ratio of 48.52 and a beta of 1.38. The business has a fifty day simple moving average of $35.66 and a 200-day simple moving average of $34.80. The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 1.91.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.96. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.42 billion. MGM Resorts International had a return on equity of 26.04% and a net margin of 1.17%.During the same quarter in the previous year, the company posted $0.45 EPS. On average, analysts forecast 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 related news, Director Keith A. Meister sold 37,500 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the sale, the director owned 5,347,978 shares of the company’s stock, valued at $183,275,206.06. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Iac Inc. acquired 450,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The shares were bought at an average price of $37.13 per share, with a total value of $16,708,500.00. Following the transaction, the insider owned 66,822,350 shares in the company, valued at $2,481,113,855.50. This represents a 0.68% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MGM Resorts International

Hedge funds and other institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC lifted its stake in shares of MGM Resorts International by 55.9% during the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock valued at $29,000 after buying an additional 281 shares during the period. Asset Management One Co. Ltd. grew its stake in MGM Resorts International by 4.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 7,700 shares of the company’s stock worth $286,000 after acquiring an additional 313 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in MGM Resorts International by 0.8% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 39,763 shares of the company’s stock valued at $1,378,000 after acquiring an additional 328 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of MGM Resorts International by 23.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,893 shares of the company’s stock worth $69,000 after purchasing an additional 355 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of MGM Resorts International by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 64,006 shares of the company’s stock worth $2,218,000 after purchasing an additional 397 shares during the period. 68.11% of the stock is currently owned by hedge funds and other 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.