MGM Resorts International (NYSE:MGM) Given Consensus Recommendation of “Moderate Buy” by Analysts

MGM Resorts International (NYSE:MGM) has earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $53.93.

Several equities research analysts recently commented on MGM shares. Stifel Nicolaus raised their target price on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. BTIG Research initiated coverage on shares of MGM Resorts International in a research report on Wednesday, July 3rd. They set a “buy” rating and a $52.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Morgan Stanley reduced their price target on shares of MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, StockNews.com lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, May 10th.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $40.44, for a total value of $5,633,292.00. Following the completion of the transaction, the director now directly owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Paul J. Salem purchased 147,500 shares of MGM Resorts International stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the transaction, the director now owns 1,702,500 shares in the company, valued at $57,544,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Keith A. Meister sold 139,300 shares of MGM Resorts International stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the completion of the sale, the director now directly owns 5,859,478 shares in the company, valued at approximately $236,957,290.32. The disclosure for this sale can be found here. Insiders have bought a total of 216,400 shares of company stock valued at $7,312,197 in the last 90 days. 2.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MGM Resorts International

Several large investors have recently modified their holdings of the stock. UMB Bank n.a. increased its position in MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after buying an additional 237 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in shares of MGM Resorts International by 0.4% in the first quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock worth $2,667,000 after purchasing an additional 245 shares in the last quarter. Mendota Financial Group LLC raised its position in shares of MGM Resorts International by 36.0% in the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after purchasing an additional 266 shares during the period. Lindbrook Capital LLC lifted its stake in shares of MGM Resorts International by 8.2% during the 1st quarter. Lindbrook Capital LLC now owns 3,550 shares of the company’s stock valued at $168,000 after buying an additional 268 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in MGM Resorts International by 1.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock worth $1,018,000 after buying an additional 278 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Up 0.9 %

Shares of NYSE MGM opened at $36.61 on Thursday. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. The company’s 50 day moving average price is $40.75 and its 200-day moving average price is $41.73. The company has a market capitalization of $11.48 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 0.66 and a beta of 2.22.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.20. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts forecast that MGM Resorts International will post 2.75 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.