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

MGM Resorts International (NYSE:MGM) has earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $55.34.

A number of research firms have recently issued reports on MGM. JMP Securities reiterated a “market outperform” rating and issued a $57.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 14th. Barclays cut their target price on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Macquarie reissued an “outperform” rating and set a $58.00 price target on shares of MGM Resorts International in a research note on Wednesday, February 14th. JPMorgan Chase & Co. upped their price objective on shares of MGM Resorts International from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Finally, StockNews.com lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a report on Monday, March 4th.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the transaction, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.83% of the company’s stock.

Institutional Trading of MGM Resorts International

Several large investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC raised its holdings in MGM Resorts International by 7.5% in the 1st quarter. Private Advisor Group LLC now owns 26,942 shares of the company’s stock worth $1,272,000 after purchasing an additional 1,877 shares in the last quarter. Hartline Investment Corp bought a new position in MGM Resorts International in the first quarter worth about $726,000. Norden Group LLC purchased a new stake in MGM Resorts International in the first quarter worth about $462,000. Van ECK Associates Corp boosted its position in MGM Resorts International by 3.5% during the 1st quarter. Van ECK Associates Corp now owns 52,493 shares of the company’s stock valued at $2,478,000 after acquiring an additional 1,795 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of MGM Resorts International by 1.4% during the 1st quarter. Principal Financial Group Inc. now owns 312,831 shares of the company’s stock worth $14,769,000 after acquiring an additional 4,176 shares during the period. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Price Performance

MGM stock opened at $39.44 on Friday. The firm has a 50 day simple moving average of $43.69 and a two-hundred day simple moving average of $42.22. The stock has a market cap of $12.50 billion, a PE ratio of 12.44, a P/E/G ratio of 1.69 and a beta of 2.19. MGM Resorts International has a one year low of $34.12 and a one year high of $51.35. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.39. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.69 earnings per share. On average, analysts predict that MGM Resorts International will post 2.46 EPS for the current fiscal year.

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.