MGM Resorts International (NYSE:MGM) Receives $53.15 Average Price Target from Brokerages

Shares of MGM Resorts International (NYSE:MGM) have received a consensus rating of “Moderate Buy” from the fourteen analysts that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $53.15.

A number of analysts recently commented on MGM shares. Macquarie decreased their price target on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Truist Financial decreased their target price on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Morgan Stanley boosted their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Mizuho decreased their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, UBS Group upgraded shares of MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd.

MGM Resorts International Stock Performance

NYSE MGM opened at $37.52 on Tuesday. The company has a fifty day moving average price of $38.39 and a 200-day moving average price of $39.84. The firm has a market cap of $11.17 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 2.62 and a beta of 2.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts predict that MGM Resorts International will post 2.5 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the sale, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in MGM Resorts International in the 2nd quarter worth approximately $28,000. MidAtlantic Capital Management Inc. bought a new position in shares of MGM Resorts International in the third quarter worth $28,000. EverSource Wealth Advisors LLC raised its position in shares of MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after buying an additional 329 shares in the last quarter. Eastern Bank bought a new stake in MGM Resorts International during the third quarter valued at $35,000. Finally, UMB Bank n.a. grew its position in MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after buying an additional 237 shares in the last quarter. Hedge funds and other 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.