MGM Resorts International (NYSE:MGM) Receives Consensus Recommendation of “Hold” from Brokerages

MGM Resorts International (NYSE:MGM) has been given an average recommendation of “Hold” by the twenty-two brokerages that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $47.1176.

A number of research analysts have recently weighed in on MGM shares. UBS Group reduced their target price on shares of MGM Resorts International from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. Stifel Nicolaus reduced their target price on shares of MGM Resorts International from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. KeyCorp raised shares of MGM Resorts International from a “sector weight” rating to an “overweight” rating and set a $117.00 target price for the company in a research report on Monday, April 27th. Morgan Stanley increased their target price on shares of MGM Resorts International from $34.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday, April 8th. Finally, Truist Financial increased their target price on shares of MGM Resorts International from $39.00 to $42.00 and gave the company a “hold” rating in a research report on Thursday, April 30th.

MGM Resorts International Stock Up 2.1%

MGM Resorts International stock opened at $38.44 on Friday. MGM Resorts International has a twelve month low of $29.18 and a twelve month high of $40.94. The firm has a 50 day moving average price of $37.55 and a 200-day moving average price of $35.93. The company has a market capitalization of $9.84 billion, a P/E ratio of 53.39 and a beta of 1.28. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 1.93.

MGM Resorts International (NYSE:MGM) last released 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). 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 for the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the prior year, the company earned $0.69 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts predict that MGM Resorts International will post 1.99 EPS for the current year.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 37,500 shares of the company’s stock in a transaction that occurred on 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 sale, the director directly owned 5,347,978 shares in the company, valued at approximately $183,275,206.06. This represents a 0.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Iac Inc. purchased 450,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The shares were acquired at an average price of $37.13 per share, for a total transaction of $16,708,500.00. Following the completion of the purchase, the insider directly owned 66,822,350 shares in the company, valued at $2,481,113,855.50. This represents a 0.68% 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 Trading of MGM Resorts International

A number of institutional investors have recently modified their holdings of MGM. CYBER HORNET ETFs LLC purchased a new stake in shares of MGM Resorts International during the 2nd quarter valued at approximately $25,000. Global Retirement Partners LLC lifted its stake 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 buying an additional 281 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of MGM Resorts International during the 1st quarter valued at approximately $30,000. Elyxium Wealth LLC purchased a new stake in shares of MGM Resorts International during the 4th quarter valued at approximately $42,000. Finally, City Holding Co. purchased a new stake in shares of MGM Resorts International during the 4th quarter valued at approximately $44,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

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.