MGM Resorts International (NYSE:MGM)‘s stock had its “buy” rating reiterated by equities researchers at Gabelli in a note issued to investors on Monday.

A number of other equities research analysts also recently weighed in on the stock. Argus raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Thursday, October 6th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of MGM Resorts International in a research report on Wednesday, October 5th. Nomura reissued a “buy” rating and set a $32.00 target price (up from $28.00) on shares of MGM Resorts International in a research note on Wednesday, October 5th. Credit Agricole SA reissued an “overweight” rating and set a $29.00 target price on shares of MGM Resorts International in a research note on Tuesday, September 20th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of MGM Resorts International in a research note on Friday, September 16th. One investment analyst has rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of C$28.18.

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

MGM Resorts International (NYSE:MGM) opened at 25.86 on Monday. The firm has a 50-day moving average of $25.50 and a 200-day moving average of $23.74. The stock’s market capitalization is $14.63 billion. MGM Resorts International has a one year low of $16.18 and a one year high of $27.04.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by $0.02. MGM Resorts International had a negative net margin of 1.90% and a positive return on equity of 3.65%. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the company earned $0.19 EPS. MGM Resorts International’s quarterly revenue was down 4.8% on a year-over-year basis. On average, equities research analysts forecast that MGM Resorts International will post $0.67 earnings per share for the current year.

In related news, major shareholder Corp Tracinda sold 4,000,000 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of C$100,000,000.00, for a total value of C$400,000,000,000,000.00. Following the transaction, the insider now directly owns 87,173,744 shares in the company, valued at approximately C$8,717,374,400,000,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Mcmanus sold 12,363 shares of the stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of C$24.44, for a total value of C$302,151.72. Following the completion of the transaction, the executive vice president now owns 40,071 shares in the company, valued at C$979,335.24. The disclosure for this sale can be found here. 16.90% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Global X Management Co. LLC boosted its position in shares of MGM Resorts International by 155.2% in the second quarter. Global X Management Co. LLC now owns 4,551 shares of the company’s stock worth $103,000 after buying an additional 2,768 shares in the last quarter. Mizuho Asset Management Co. Ltd. boosted its position in shares of MGM Resorts International by 146.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 6,894 shares of the company’s stock worth $156,000 after buying an additional 4,095 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of MGM Resorts International during the second quarter worth about $182,000. MSI Financial Services Inc boosted its position in shares of MGM Resorts International by 38.9% in the third quarter. MSI Financial Services Inc now owns 7,188 shares of the company’s stock worth $187,000 after buying an additional 2,013 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of MGM Resorts International by 10.4% in the second quarter. Pacer Advisors Inc. now owns 9,075 shares of the company’s stock worth $205,000 after buying an additional 852 shares in the last quarter. Institutional investors own 71.21% of the company’s stock.

About MGM Resorts International

MGM Resorts International is a holding company. The Company owns and operates casino resorts. It operates in two segments: wholly owned domestic resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail and other resort amenities. It has additional business activities, including its investments in unconsolidated affiliates, and other corporate and management operations.

5 Day Chart for NYSE:MGM

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