Credit Agricole SA reissued their overweight rating on shares of MGM Resorts International (NYSE:MGM) in a research report report published on Tuesday. They currently have a $29.00 price objective on the stock.

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

Other analysts have also recently issued research reports about the stock. Deutsche Bank AG restated a buy rating and set a $29.00 price objective on shares of MGM Resorts International in a research report on Monday, June 27th. Stifel Nicolaus restated a buy rating and set a $20.00 price objective on shares of MGM Resorts International in a research report on Thursday, September 15th. Susquehanna restated a positive rating and set a $30.00 price objective on shares of MGM Resorts International in a research report on Thursday, September 8th. Nomura restated a buy rating and set a $28.00 price objective on shares of MGM Resorts International in a research report on Wednesday, June 1st. Finally, Zacks Investment Research cut shares of MGM Resorts International from a buy rating to a hold rating in a research report on Friday, July 8th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of C$27.71.

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

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

In other MGM Resorts International news, major shareholder Corp Tracinda sold 4,000,000 shares of MGM Resorts International stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of C$100,000,000.00, for a total value of C$400,000,000,000,000.00. Following the completion of the transaction, the insider now directly owns 87,173,744 shares of the company’s stock, valued at C$8,717,374,400,000,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexis Herman sold 2,391 shares of MGM Resorts International stock in a transaction dated Friday, August 12th. The stock was 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 directly owns 24,511 shares of the company’s stock, valued at C$604,441.26. The disclosure for this sale can be found here. Corporate insiders own 16.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Global X Management Co. LLC boosted its position in shares of MGM Resorts International by 155.2% in the second quarter. Global X Management Co. LLC now owns 4,551 shares of the company’s stock valued at $103,000 after buying an additional 2,768 shares during the period. Exane Derivatives boosted its position in shares of MGM Resorts International by 328.3% in the first quarter. Exane Derivatives now owns 4,698 shares of the company’s stock valued at $101,000 after buying an additional 3,601 shares during the period. Mizuho Asset Management Co. Ltd. boosted its position in shares of MGM Resorts International by 146.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 6,894 shares of the company’s stock valued at $156,000 after buying an additional 4,095 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of MGM Resorts International during the second quarter valued at about $182,000. Finally, Pacer Advisors Inc. boosted its position in shares of MGM Resorts International by 10.4% in the second quarter. Pacer Advisors Inc. now owns 9,075 shares of the company’s stock valued at $205,000 after buying an additional 852 shares during the period. 71.23% of the stock is owned by institutional investors and hedge funds.

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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