MGM Resorts International (NYSE:MGM) Receives $52.54 Average Target Price from Analysts

Shares of MGM Resorts International (NYSE:MGM) have been assigned a consensus rating of “Moderate Buy” from the fifteen brokerages that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $52.36.

MGM has been the topic of several research analyst reports. JMP Securities lowered their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating on the stock in a report on Monday, November 25th. Barclays cut their price target on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Morgan Stanley boosted their price target on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Mizuho cut their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st.

MGM Resorts International Price Performance

NYSE:MGM opened at $34.09 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The business’s 50-day moving average price is $36.65 and its 200 day moving average price is $38.79. MGM Resorts International has a 52-week low of $33.28 and a 52-week high of $48.24. The firm has a market cap of $10.15 billion, a P/E ratio of 12.18, a PEG ratio of 3.10 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). The company had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 earnings per share. As a group, sell-side analysts predict that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Marshall Wace LLP boosted its stake in MGM Resorts International by 174.8% during the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after acquiring an additional 706,159 shares during the last quarter. Empower Advisory Group LLC boosted its position in shares of MGM Resorts International by 4.2% during the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after purchasing an additional 62,997 shares in the last quarter. Goldentree Asset Management LP grew its holdings in shares of MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after buying an additional 1,390,599 shares during the period. Maverick Capital Ltd. bought a new stake in shares of MGM Resorts International in the 2nd quarter valued at $1,211,000. Finally, Zacks Investment Management raised its stake in MGM Resorts International by 7.8% during the 3rd quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock worth $15,651,000 after buying an additional 29,107 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Company Profile

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.