MGM Resorts International (NYSE:MGM) Receives Average Recommendation of “Hold” from Analysts

MGM Resorts International (NYSE:MGM) has earned a consensus recommendation of “Hold” from the twenty analysts that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $41.9375.

A number of analysts have recently issued reports on the company. Morgan Stanley reiterated an “underweight” rating and set a $34.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 11th. Truist Financial raised their target price on shares of MGM Resorts International from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Friday, February 6th. Zacks Research upgraded shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Barclays set a $37.00 price target on shares of MGM Resorts International in a research note on Friday, February 6th. Finally, Citigroup increased their price target on shares of MGM Resorts International from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, February 6th.

MGM Resorts International Stock Down 0.2%

Shares of NYSE MGM opened at $36.70 on Friday. The business has a 50-day simple moving average of $35.84 and a two-hundred day simple moving average of $34.85. The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $40.16. The company has a market cap of $9.39 billion, a P/E ratio of 48.93 and a beta of 1.35.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.96. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.42 billion. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. During the same quarter in the prior year, the firm posted $0.45 EPS. Research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 37,500 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the sale, the director owned 5,347,978 shares in the company, valued at $183,275,206.06. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Iac Inc. purchased 550,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were purchased at an average cost of $37.30 per share, with a total value of $20,515,000.00. Following the purchase, the insider owned 66,372,350 shares of the company’s stock, valued at approximately $2,475,688,655. The trade was a 0.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.06% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC boosted its stake in shares of MGM Resorts International by 55.9% in the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock valued at $29,000 after purchasing an additional 281 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in MGM Resorts International by 4.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 7,700 shares of the company’s stock worth $286,000 after purchasing an additional 313 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in MGM Resorts International by 0.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 39,763 shares of the company’s stock worth $1,378,000 after purchasing an additional 328 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in MGM Resorts International by 23.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,893 shares of the company’s stock valued at $69,000 after buying an additional 355 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in MGM Resorts International by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 64,006 shares of the company’s stock valued at $2,218,000 after buying an additional 397 shares during the period. 68.11% of the stock is currently owned by institutional investors.

About MGM Resorts International

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.