MGM Resorts International (NYSE:MGM) Receives Consensus Rating of “Moderate Buy” from Brokerages

MGM Resorts International (NYSE:MGM) has received an average recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $51.47.

Several equities analysts recently issued reports on MGM shares. Macquarie restated an “outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, February 13th. Capital One Financial raised their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Truist Financial dropped their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Mizuho boosted their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, Susquehanna Bancshares upped their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On MGM Resorts International

Several hedge funds have recently added to or reduced their stakes in the stock. Davis Selected Advisers increased its stake in MGM Resorts International by 4.6% during the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after purchasing an additional 882,417 shares in the last quarter. Invesco Ltd. grew its holdings in shares of MGM Resorts International by 22.5% during the fourth quarter. Invesco Ltd. now owns 5,785,343 shares of the company’s stock valued at $200,462,000 after buying an additional 1,063,707 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of MGM Resorts International by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after acquiring an additional 90,645 shares in the last quarter. Marshall Wace LLP raised its holdings in MGM Resorts International by 50.9% in the 4th quarter. Marshall Wace LLP now owns 3,233,718 shares of the company’s stock worth $112,048,000 after acquiring an additional 1,090,533 shares during the last quarter. Finally, Goldentree Asset Management LP lifted its position in MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after acquiring an additional 1,390,599 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Stock Up 0.8 %

Shares of NYSE MGM opened at $38.38 on Thursday. The stock has a market capitalization of $11.43 billion, a P/E ratio of 15.99, a PEG ratio of 3.24 and a beta of 2.20. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24. The firm’s 50 day simple moving average is $34.51 and its two-hundred day simple moving average is $36.78. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, analysts expect that MGM Resorts International will post 2.19 EPS for the current fiscal 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.