MGM Resorts International (NYSE:MGM) Given Average Recommendation of “Hold” by Brokerages

Shares of MGM Resorts International (NYSE:MGM) have been given a consensus rating of “Hold” by the twenty-five analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, ten have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $44.5588.

A number of equities analysts recently commented on MGM shares. Stifel Nicolaus set a $45.00 target price on MGM Resorts International in a report on Thursday, October 30th. Mizuho set a $62.00 price objective on shares of MGM Resorts International in a research note on Thursday, October 30th. Argus cut their target price on shares of MGM Resorts International from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, November 14th. Macquarie reduced their target price on shares of MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 2nd. Finally, UBS Group dropped their price target on shares of MGM Resorts International from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Monday, November 17th.

MGM Resorts International Stock Performance

NYSE:MGM opened at $35.38 on Friday. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $41.32. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.19 and a current ratio of 1.23. The company has a 50 day moving average price of $35.10 and a 200 day moving average price of $35.35. The stock has a market capitalization of $9.68 billion, a P/E ratio of 221.12, a PEG ratio of 2.67 and a beta of 1.46.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). MGM Resorts International had a return on equity of 17.23% and a net margin of 0.40%.The firm had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities research analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Iac Inc. purchased 1,098,748 shares of the business’s stock in a transaction on Friday, December 5th. The shares were bought at an average price of $36.30 per share, for a total transaction of $39,884,552.40. Following the acquisition, the insider directly owned 65,822,350 shares in the company, valued at $2,389,351,305. This trade represents a 1.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.06% of the stock is currently owned by company insiders.

Institutional Trading of MGM Resorts International

A number of large investors have recently made changes to their positions in the company. Davis Selected Advisers lifted its stake in MGM Resorts International by 0.6% in the third quarter. Davis Selected Advisers now owns 23,953,452 shares of the company’s stock worth $830,227,000 after acquiring an additional 132,343 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of MGM Resorts International by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 23,576,877 shares of the company’s stock valued at $817,175,000 after purchasing an additional 340,629 shares in the last quarter. Helikon Investments Ltd lifted its position in shares of MGM Resorts International by 379.9% during the 2nd quarter. Helikon Investments Ltd now owns 8,810,322 shares of the company’s stock worth $302,987,000 after purchasing an additional 6,974,347 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of MGM Resorts International by 202.5% during the third quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock worth $292,772,000 after purchasing an additional 5,654,757 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in MGM Resorts International by 81.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock valued at $264,874,000 after buying an additional 3,429,946 shares during the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Company Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.