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

MGM Resorts International (NYSE:MGM) has been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $54.83.

MGM has been the topic of several research analyst reports. JMP Securities boosted their target price on MGM Resorts International from $57.00 to $58.00 and gave the company a “market outperform” rating in a research note on Monday, May 6th. Barclays boosted their target price on MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Morgan Stanley upped their price target on MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. StockNews.com cut MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. upped their price target on MGM Resorts International from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $39.85 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.51. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $51.35. The stock has a 50 day moving average price of $41.21 and a two-hundred day moving average price of $42.78. The company has a market capitalization of $12.50 billion, a P/E ratio of 15.33, a PEG ratio of 0.88 and a beta of 2.24.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.18. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The firm had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. The business’s revenue was up 13.2% compared to the same quarter last year. Analysts expect that MGM Resorts International will post 2.9 earnings per share for the current year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the transaction, the director now directly owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other MGM Resorts International news, Director Alexis Herman sold 4,344 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $41.50, for a total value of $180,276.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Keith A. Meister sold 139,300 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $40.44, for a total value of $5,633,292.00. Following the completion of the transaction, the director now directly owns 5,859,478 shares in the company, valued at approximately $236,957,290.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,988 shares of company stock valued at $5,991,759. Insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. CVA Family Office LLC bought a new position in MGM Resorts International in the fourth quarter valued at about $28,000. EverSource Wealth Advisors LLC lifted its holdings in MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after acquiring an additional 329 shares during the period. Accent Capital Management LLC purchased a new stake in MGM Resorts International in the fourth quarter worth about $45,000. Mendota Financial Group LLC increased its position in MGM Resorts International by 36.0% in the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after buying an additional 266 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in MGM Resorts International by 49.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock worth $49,000 after buying an additional 367 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.