Analysts Set MGM Resorts International (NYSE:MGM) PT at $50.59

MGM Resorts International (NYSE:MGM) has been assigned an average recommendation of “Hold” from the twenty-one analysts that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $51.4882.

A number of equities research analysts have commented on MGM shares. Capital One Financial raised their price objective on MGM Resorts International from $46.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Truist Financial upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and upped their price objective for the company from $42.00 to $55.00 in a research note on Wednesday, May 27th. Mizuho cut their target price 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. UBS Group set a $48.00 target price on shares of MGM Resorts International in a research note on Thursday, July 2nd. Finally, Weiss Ratings raised shares of MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 15th.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $46.68 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 1.93. The company has a market cap of $11.94 billion, a PE ratio of 64.83 and a beta of 1.29. The company’s fifty day simple moving average is $43.51 and its 200-day simple moving average is $38.77. MGM Resorts International has a 52 week low of $29.18 and a 52 week high of $51.59.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities research analysts anticipate that MGM Resorts International will post 1.95 EPS for the current year.

Insider Activity at MGM Resorts International

In other news, Director Daniel J. Taylor sold 6,675 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $38.44, for a total transaction of $256,587.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.38% of the stock is currently owned by company insiders.

Institutional Trading of MGM Resorts International

Institutional investors and hedge funds have recently modified their holdings of the company. Mirador Capital Partners LP bought a new stake in MGM Resorts International during the second quarter valued at about $2,405,000. GAMMA Investing LLC increased its stake in MGM Resorts International by 9.6% during the second quarter. GAMMA Investing LLC now owns 17,080 shares of the company’s stock valued at $817,000 after acquiring an additional 1,500 shares during the period. CX Institutional raised its holdings in MGM Resorts International by 7.6% in the 2nd quarter. CX Institutional now owns 11,264 shares of the company’s stock valued at $539,000 after acquiring an additional 791 shares in the last quarter. Redwood Investment Management LLC bought a new stake in shares of MGM Resorts International in the 1st quarter worth approximately $1,053,000. Finally, Empowered Funds LLC grew its holdings in shares of MGM Resorts International by 70.8% during the 1st quarter. Empowered Funds LLC now owns 25,819 shares of the company’s stock worth $956,000 after purchasing an additional 10,705 shares in the last quarter. 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.