MGM Resorts International (NYSE:MGM) Given Consensus Recommendation of “Moderate Buy” by Analysts

MGM Resorts International (NYSE:MGM) has earned a consensus rating of “Moderate Buy” from the fifteen analysts that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $51.93.

A number of equities research analysts have recently issued reports on MGM shares. Deutsche Bank Aktiengesellschaft lowered their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Wells Fargo & Company dropped their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Morgan Stanley raised their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Truist Financial cut their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Barclays lowered their target price on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, December 13th.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. AE Wealth Management LLC lifted its holdings in MGM Resorts International by 48.3% in the second quarter. AE Wealth Management LLC now owns 6,761 shares of the company’s stock worth $300,000 after acquiring an additional 2,201 shares during the last quarter. Sei Investments Co. boosted its position in MGM Resorts International by 9.0% during the 2nd quarter. Sei Investments Co. now owns 18,854 shares of the company’s stock valued at $838,000 after purchasing an additional 1,564 shares during the period. ProShare Advisors LLC grew its stake in MGM Resorts International by 0.8% during the 2nd quarter. ProShare Advisors LLC now owns 57,876 shares of the company’s stock worth $2,572,000 after buying an additional 431 shares during the last quarter. Public Sector Pension Investment Board increased its position in MGM Resorts International by 78.6% in the second quarter. Public Sector Pension Investment Board now owns 11,325 shares of the company’s stock worth $503,000 after buying an additional 4,984 shares during the period. Finally, Bank of Montreal Can lifted its stake in MGM Resorts International by 2.2% in the second quarter. Bank of Montreal Can now owns 263,997 shares of the company’s stock valued at $11,740,000 after buying an additional 5,805 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Trading Down 0.7 %

Shares of MGM stock opened at $32.90 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24. The firm’s 50 day moving average price is $35.15 and its two-hundred day moving average price is $37.75. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 3.06 and a beta of 2.21.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. On average, analysts anticipate that MGM Resorts International will post 2.41 EPS for the current year.

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.