MGM Resorts International (NYSE:MGM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

MGM Resorts International (NYSE:MGM) has earned a consensus recommendation of “Moderate Buy” from the twenty-one analysts that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $51.29.

MGM has been the subject of several recent analyst reports. BTIG Research downgraded shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Capital One Financial raised their price target 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. Canaccord Genuity Group reiterated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Jefferies Financial Group reduced their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Finally, Wells Fargo & Company upped their price target on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th.

Insider Buying and Selling at MGM Resorts International

In other news, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. This trade represents a 24.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the acquisition, the chief financial officer now directly owns 75,648 shares in the company, valued at $2,433,596.16. The trade was a 15.23 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of large investors have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC increased its stake in shares of MGM Resorts International by 6.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 10,997 shares of the company’s stock worth $430,000 after purchasing an additional 681 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in MGM Resorts International by 1.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 455,672 shares of the company’s stock valued at $17,812,000 after purchasing an additional 7,917 shares during the period. Victory Capital Management Inc. grew its holdings in MGM Resorts International by 4.3% during the third quarter. Victory Capital Management Inc. now owns 114,385 shares of the company’s stock valued at $4,471,000 after purchasing an additional 4,745 shares during the period. Oppenheimer Asset Management Inc. increased its position in MGM Resorts International by 48.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 22,081 shares of the company’s stock worth $863,000 after buying an additional 7,255 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of MGM Resorts International by 21.2% in the third quarter. Oppenheimer & Co. Inc. now owns 56,906 shares of the company’s stock valued at $2,224,000 after buying an additional 9,935 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Price Performance

MGM stock opened at $31.78 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The firm has a market cap of $9.07 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.98 and a beta of 2.18. The company’s fifty day simple moving average is $34.09 and its 200 day simple moving average is $36.24. MGM Resorts International has a 12-month low of $29.99 and a 12-month high of $48.24.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. On average, analysts expect that MGM Resorts International will post 2.21 earnings per share 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.