Brokerages Set MGM Resorts International (NYSE:MGM) Target Price at $52.49

MGM Resorts International (NYSE:MGM) has been given a consensus rating of “Moderate Buy” by the twenty-two analysts that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, ten have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $52.4882.

MGM has been the subject of a number of research reports. KeyCorp raised shares of MGM Resorts International from a “sector weight” rating to an “overweight” rating and set a $117.00 price target for the company in a report on Monday, April 27th. The Goldman Sachs Group restated a “sell” rating and set a $43.00 price objective on shares of MGM Resorts International in a report on Wednesday, July 15th. Mizuho cut their price objective on shares of MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. Morgan Stanley reiterated an “underweight” rating on shares of MGM Resorts International in a research note on Wednesday, July 22nd. Finally, UBS Group set a $48.00 target price on MGM Resorts International in a research report on Thursday, July 2nd.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Daniel J. Taylor sold 6,675 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $38.44, for a total value of $256,587.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.38% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Hsbc Holdings PLC grew its position in MGM Resorts International by 31.0% in the first quarter. Hsbc Holdings PLC now owns 254,801 shares of the company’s stock valued at $9,415,000 after acquiring an additional 60,340 shares during the period. M&T Bank Corp lifted its holdings in shares of MGM Resorts International by 1,118.7% during the fourth quarter. M&T Bank Corp now owns 97,630 shares of the company’s stock valued at $3,563,000 after acquiring an additional 89,619 shares during the period. Bastion Asset Management Inc. acquired a new stake in shares of MGM Resorts International in the 1st quarter valued at $6,212,000. Todd Asset Management LLC grew its holdings in shares of MGM Resorts International by 9.2% in the 4th quarter. Todd Asset Management LLC now owns 709,520 shares of the company’s stock worth $25,890,000 after purchasing an additional 59,691 shares during the last quarter. Finally, Davis Selected Advisers grew its holdings in shares of MGM Resorts International by 12.0% in the 4th quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock worth $978,669,000 after purchasing an additional 2,866,750 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Stock Down 0.1%

Shares of MGM stock opened at $44.52 on Thursday. MGM Resorts International has a 12 month low of $29.18 and a 12 month high of $51.59. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 1.80. The firm has a market cap of $11.20 billion, a PE ratio of 26.98 and a beta of 1.31. The stock has a 50 day moving average of $46.59 and a 200-day moving average of $40.09.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter last year, the company posted $0.79 earnings per share. MGM Resorts International’s quarterly revenue was up 2.2% on a year-over-year basis. On average, equities analysts predict that MGM Resorts International will post 1.97 EPS for the current year.

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.