MGM Resorts International (NYSE:MGM) Receives Average Rating of “Hold” from Brokerages

MGM Resorts International (NYSE:MGM) has been assigned an average rating of “Hold” from the twenty-three analysts that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $43.8235.

MGM has been the topic of a number of analyst reports. Texas Capital raised MGM Resorts International to a “strong-buy” rating in a research note on Thursday, January 8th. JPMorgan Chase & Co. upped their target price on MGM Resorts International from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday. The Goldman Sachs Group restated a “sell” rating and set a $33.00 price target on shares of MGM Resorts International in a research note on Monday, December 15th. Citigroup raised their target price on shares of MGM Resorts International from $35.00 to $41.00 and gave the company a “neutral” rating in a research report on Friday. Finally, UBS Group lowered their price target on shares of MGM Resorts International from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Monday, November 17th.

MGM Resorts International Trading Up 1.6%

MGM stock opened at $38.09 on Thursday. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $41.32. The stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of 50.79 and a beta of 1.44. 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 firm’s fifty day simple moving average is $35.67 and its two-hundred day simple moving average is $34.99.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Thursday, February 5th. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $0.64 by $0.96. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.42 billion. MGM Resorts International had a net margin of 1.17% and a return on equity of 25.46%. During the same period in the prior year, the firm posted $0.45 EPS. As a group, analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.

Insiders Place Their Bets

In other MGM Resorts International news, major shareholder Iac Inc. purchased 1,098,748 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $2,389,351,305. The trade was a 1.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.06% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of institutional investors have recently bought and sold shares of MGM. Davis Selected Advisers increased its stake in MGM Resorts International by 12.0% during the 4th quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock valued at $978,669,000 after purchasing an additional 2,866,750 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of MGM Resorts International by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 23,782,004 shares of the company’s stock valued at $867,805,000 after buying an additional 205,127 shares during the last quarter. Helikon Investments Ltd increased its position in shares of MGM Resorts International by 379.9% in the 2nd quarter. Helikon Investments Ltd now owns 8,810,322 shares of the company’s stock valued at $302,987,000 after acquiring an additional 6,974,347 shares during the period. AQR Capital Management LLC raised its stake in MGM Resorts International by 202.5% in the 3rd quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock worth $292,772,000 after acquiring an additional 5,654,757 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in MGM Resorts International by 81.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock worth $264,874,000 after acquiring an additional 3,429,946 shares during 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.