Credit Agricole SA reissued their overweight rating on shares of MGM Resorts International (NYSE:MGM) in a report published on Tuesday morning. The brokerage currently has a $29.00 target price on the stock.

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

A number of other equities analysts have also recently issued reports on MGM. Deutsche Bank AG reiterated a buy rating and set a $28.00 target price on shares of MGM Resorts International in a report on Tuesday, May 31st. Nomura reiterated a buy rating and set a $28.00 target price on shares of MGM Resorts International in a report on Wednesday, June 1st. Stifel Nicolaus increased their target price on MGM Resorts International from $27.00 to $30.00 and gave the stock a buy rating in a report on Thursday, June 9th. Telsey Advisory Group increased their target price on MGM Resorts International from $27.00 to $29.00 and gave the stock an outperform rating in a report on Friday, June 17th. Finally, Wells Fargo & Co. reiterated a buy rating on shares of MGM Resorts International in a report on Friday, June 17th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. MGM Resorts International currently has an average rating of Buy and a consensus price target of C$27.71.

MGM Resorts International (NYSE:MGM) opened at 25.79 on Tuesday. The firm has a 50-day moving average price of $24.61 and a 200 day moving average price of $23.05. The firm’s market cap is $14.59 billion. MGM Resorts International has a 12-month low of $16.18 and a 12-month high of $25.86.

MGM Resorts International (NYSE:MGM) last released its earnings results on Thursday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.02. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.33 billion. MGM Resorts International had a positive return on equity of 3.65% and a negative net margin of 1.90%. MGM Resorts International’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the company posted $0.19 EPS. Equities research analysts forecast that MGM Resorts International will post $0.67 EPS for the current year.

In related news, EVP John Mcmanus sold 12,363 shares of the business’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of C$24.44, for a total value of C$302,151.72. Following the transaction, the executive vice president now owns 40,071 shares in the company, valued at C$979,335.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alexis Herman sold 2,391 shares of the business’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of C$24.66, for a total transaction of C$58,962.06. Following the completion of the transaction, the director now owns 24,511 shares in the company, valued at approximately C$604,441.26. The disclosure for this sale can be found here. 16.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. purchased a new position in MGM Resorts International during the first quarter valued at about $3,107,000. BlackRock Group LTD raised its position in MGM Resorts International by 3.9% in the first quarter. BlackRock Group LTD now owns 3,142,902 shares of the company’s stock valued at $67,383,000 after buying an additional 116,630 shares during the last quarter. BlackRock Inc. raised its position in MGM Resorts International by 16.5% in the first quarter. BlackRock Inc. now owns 211,240 shares of the company’s stock valued at $4,530,000 after buying an additional 29,924 shares during the last quarter. Prudential Financial Inc. raised its position in MGM Resorts International by 1.5% in the first quarter. Prudential Financial Inc. now owns 27,061 shares of the company’s stock valued at $580,000 after buying an additional 400 shares during the last quarter. Finally, Teachers Advisors Inc. raised its position in MGM Resorts International by 6.3% in the first quarter. Teachers Advisors Inc. now owns 3,021,645 shares of the company’s stock valued at $64,784,000 after buying an additional 177,929 shares during the last quarter. Institutional investors and hedge funds own 71.23% of the company’s stock.

MGM Resorts International Company Profile

MGM Resorts International is a holding company. The Company owns and operates casino resorts. It operates in two segments: wholly owned domestic resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail and other resort amenities. It has additional business activities, including its investments in unconsolidated affiliates, and other corporate and management operations.

5 Day Chart for NYSE:MGM

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