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

MGM Resorts International (NYSE:MGM) has received a consensus rating of “Hold” from the twenty-two ratings firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $49.7647.

A number of equities analysts recently commented on the company. UBS Group increased their price objective on MGM Resorts International from $39.00 to $50.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Barclays increased their price objective on MGM Resorts International from $37.00 to $39.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Berenberg Bank restated a “buy” rating on shares of MGM Resorts International in a report on Wednesday, February 11th. JPMorgan Chase & Co. upgraded MGM Resorts International from a “neutral” rating to an “overweight” rating and set a $46.00 price objective on the stock in a report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on MGM Resorts International from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd.

MGM Resorts International Price Performance

Shares of MGM opened at $47.10 on Wednesday. The company has a market capitalization of $12.05 billion, a price-to-earnings ratio of 65.42 and a beta of 1.31. MGM Resorts International has a fifty-two week low of $29.18 and a fifty-two week high of $51.59. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.33 and a quick ratio of 1.30. The business’s 50-day moving average is $39.60 and its 200-day moving average is $37.05.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.37 billion. MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. MGM Resorts International’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. Equities research analysts expect that MGM Resorts International will post 2.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Daniel J. Taylor sold 6,675 shares of the 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Iac Inc. acquired 550,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was purchased at an average price of $37.30 per share, for a total transaction of $20,515,000.00. Following the acquisition, the insider directly owned 66,372,350 shares of the company’s stock, valued at $2,475,688,655. The trade was a 0.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.38% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

A number of large investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. boosted its position in MGM Resorts International by 2.5% during the first quarter. Whittier Trust Co. now owns 10,778 shares of the company’s stock worth $405,000 after purchasing an additional 262 shares during the period. Global Retirement Partners LLC boosted its position in MGM Resorts International by 55.9% during the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 281 shares during the period. Asset Management One Co. Ltd. boosted its position in MGM Resorts International by 4.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 7,700 shares of the company’s stock worth $286,000 after purchasing an additional 313 shares during the period. Brown Brothers Harriman & Co. boosted its position in MGM Resorts International by 23.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,893 shares of the company’s stock worth $69,000 after purchasing an additional 355 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in MGM Resorts International by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 64,006 shares of the company’s stock worth $2,218,000 after purchasing an additional 397 shares during the period. Institutional investors own 68.11% of the company’s stock.

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.