MGM Resorts International (NYSE:MGM) Given Consensus Rating of “Hold” by Analysts

Shares of MGM Resorts International (NYSE:MGM) have earned an average recommendation of “Hold” from the twenty-three analysts that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $42.50.

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. raised their price objective on MGM Resorts International from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Morgan Stanley restated an “underweight” rating and issued a $34.00 price target on shares of MGM Resorts International in a research note on Wednesday. Stifel Nicolaus raised their target price on MGM Resorts International from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Truist Financial lifted their price target on shares of MGM Resorts International from $38.00 to $39.00 and gave the stock a “hold” rating in a research report on Friday, February 6th. Finally, Argus lowered their target price on 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.

MGM Resorts International Stock Performance

NYSE:MGM traded down $0.04 during mid-day trading on Thursday, reaching $36.32. 569,518 shares of the stock were exchanged, compared to its average volume of 4,973,518. The company has a 50 day simple moving average of $35.73 and a 200-day simple moving average of $34.99. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $9.93 billion, a P/E ratio of 48.35 and a beta of 1.44. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $41.32.

MGM Resorts International (NYSE:MGM) last posted its quarterly 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. MGM Resorts International had a net margin of 1.17% and a return on equity of 25.46%. The business had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.42 billion. During the same period in the prior year, the company posted $0.45 EPS. Analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Activity

In other MGM Resorts International news, major shareholder Iac Inc. bought 1,098,748 shares of the stock in a transaction dated Friday, December 5th. The stock was bought at an average cost of $36.30 per share, for a total transaction of $39,884,552.40. Following the completion of the purchase, the insider owned 65,822,350 shares in the company, valued at $2,389,351,305. This represents a 1.70% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.06% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGM. CYBER HORNET ETFs LLC bought a new stake in shares of MGM Resorts International in the second quarter worth $25,000. Mendota Financial Group LLC bought a new position in shares of MGM Resorts International during the third quarter valued at about $27,000. Global Retirement Partners LLC grew its position in shares of MGM Resorts International by 55.9% during the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock valued at $29,000 after acquiring an additional 281 shares during the period. Mather Group LLC. purchased a new stake in MGM Resorts International during the third quarter valued at about $33,000. Finally, Elyxium Wealth LLC purchased a new position in shares of MGM Resorts International in the fourth quarter worth about $42,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

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.