MGM Resorts International (NYSE:MGM) Receives Average Recommendation of “Hold” from Analysts

MGM Resorts International (NYSE:MGM) has been assigned a consensus rating of “Hold” from the twenty brokerages that are currently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $41.9375.

MGM has been the topic of several analyst reports. Texas Capital raised shares of MGM Resorts International to a “strong-buy” rating in a research report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft raised their target price on MGM Resorts International from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Capital One Financial decreased their price target on MGM Resorts International from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, December 5th. Stifel Nicolaus increased their price target on MGM Resorts International from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Finally, Morgan Stanley reissued an “underweight” rating and set a $34.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 11th.

MGM Resorts International Trading Up 0.2%

Shares of MGM opened at $37.58 on Friday. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $40.16. The firm has a market capitalization of $9.61 billion, a P/E ratio of 50.11 and a beta of 1.38. The firm has a 50-day moving average price of $35.63 and a 200 day moving average price of $34.81. The company has a current ratio of 1.23, a quick ratio of 1.20 and a debt-to-equity ratio of 1.91.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, February 4th. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates 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 26.04%. During the same period in the previous year, the firm earned $0.45 earnings per share. Sell-side analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 37,500 shares of MGM Resorts International stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the completion of the sale, the director directly owned 5,347,978 shares in the company, valued at $183,275,206.06. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Iac Inc. purchased 550,000 shares of MGM Resorts International stock in a transaction dated Monday, March 23rd. The stock was bought at an average cost of $37.30 per share, for a total transaction of $20,515,000.00. Following the completion of the purchase, the insider directly owned 66,372,350 shares in the company, valued at approximately $2,475,688,655. This trade represents a 0.84% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 3.06% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MGM. Global Retirement Partners LLC grew its stake in shares of MGM Resorts International by 55.9% in the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock valued at $29,000 after buying an additional 281 shares in the last quarter. Asset Management One Co. Ltd. lifted its stake in MGM Resorts International by 4.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 7,700 shares of the company’s stock worth $286,000 after acquiring an additional 313 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in MGM Resorts International by 0.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 39,763 shares of the company’s stock valued at $1,378,000 after acquiring an additional 328 shares during the period. Brown Brothers Harriman & Co. grew its position in MGM Resorts International by 23.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,893 shares of the company’s stock valued at $69,000 after acquiring an additional 355 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in MGM Resorts International by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 64,006 shares of the company’s stock valued at $2,218,000 after acquiring an additional 397 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.