MGM Resorts International (NYSE:MGM) has earned an average recommendation of “Buy” from the twenty ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $37.00.
MGM has been the subject of several recent research reports. Roth Capital initiated coverage on shares of MGM Resorts International in a research report on Wednesday, October 25th. They set a “buy” rating and a $38.00 target price for the company. Zacks Investment Research downgraded shares of MGM Resorts International from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Morgan Stanley set a $35.00 target price on shares of MGM Resorts International and gave the stock a “buy” rating in a research report on Friday, October 6th. Deutsche Bank downgraded shares of MGM Resorts International from a “buy” rating to a “hold” rating and set a $36.00 target price for the company. in a research report on Monday, September 11th. Finally, Nomura decreased their target price on shares of MGM Resorts International from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, November 1st.
MGM Resorts International (MGM) traded up $0.23 during trading hours on Monday, hitting $33.89. 7,227,593 shares of the stock traded hands, compared to its average volume of 5,825,843. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $19,056.21, a P/E ratio of 33.23, a PEG ratio of 6.31 and a beta of 1.45. MGM Resorts International has a one year low of $25.15 and a one year high of $34.65.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Monday, December 11th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.30%. The ex-dividend date was Friday, December 8th. MGM Resorts International’s dividend payout ratio (DPR) is presently 43.14%.
In other MGM Resorts International news, Director William A. Bible sold 6,128 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $33.23, for a total value of $203,633.44. Following the transaction, the director now directly owns 27,081 shares in the company, valued at $899,901.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sean Charland bought 25,000 shares of the company’s stock in a transaction on Wednesday, December 6th. The stock was bought at an average price of $22.50 per share, for a total transaction of $562,500.00. Over the last 90 days, insiders have sold 96,877 shares of company stock worth $3,187,002. 12.20% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC boosted its stake in MGM Resorts International by 17.5% in the third quarter. Parametric Portfolio Associates LLC now owns 501,098 shares of the company’s stock valued at $16,331,000 after acquiring an additional 74,471 shares during the last quarter. AXA boosted its stake in MGM Resorts International by 22.0% in the third quarter. AXA now owns 313,177 shares of the company’s stock valued at $10,206,000 after acquiring an additional 56,566 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in MGM Resorts International in the third quarter valued at about $197,000. FrontFour Capital Group LLC boosted its stake in MGM Resorts International by 6.2% in the third quarter. FrontFour Capital Group LLC now owns 340,902 shares of the company’s stock valued at $11,110,000 after acquiring an additional 19,782 shares during the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new position in MGM Resorts International in the third quarter valued at about $362,000. Hedge funds and other institutional investors own 82.96% of the company’s stock.
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MGM Resorts International Company Profile
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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