Brokerages Set MGM Resorts International (NYSE:MGM) Target Price at $41.94

MGM Resorts International (NYSE:MGM) has earned a consensus rating of “Hold” from the twenty research firms that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $41.9375.

MGM has been the topic of a number of analyst reports. Wells Fargo & Company upped their price objective on MGM Resorts International from $29.00 to $31.00 and gave the stock an “underweight” rating in a research note on Friday, January 16th. Truist Financial boosted their target price on shares of MGM Resorts International from $38.00 to $39.00 and gave the stock a “hold” rating in a report on Friday, February 6th. The Goldman Sachs Group reiterated a “sell” rating and issued a $33.00 price target on shares of MGM Resorts International in a research note on Monday, December 15th. Berenberg Bank restated a “buy” rating on shares of MGM Resorts International in a research note on Wednesday, February 11th. Finally, Texas Capital raised shares of MGM Resorts International to a “strong-buy” rating in a report on Thursday, January 8th.

MGM Resorts International Trading Up 2.3%

Shares of NYSE:MGM opened at $36.67 on Monday. The company’s 50-day moving average price is $35.41 and its two-hundred day moving average price is $34.96. MGM Resorts International has a one year low of $25.30 and a one year high of $40.16. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 1.20. The stock has a market capitalization of $9.38 billion, a PE ratio of 48.89 and a beta of 1.38.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.96. MGM Resorts International had a return on equity of 26.04% and a net margin of 1.17%.The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. On average, equities analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, major shareholder Iac Inc. bought 1,098,748 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were acquired at an average cost of $36.30 per share, with a total value of $39,884,552.40. Following the acquisition, the insider owned 65,822,350 shares of the company’s stock, valued at $2,389,351,305. The trade was a 1.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MGM Resorts International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGM. CYBER HORNET ETFs LLC bought a new position in shares of MGM Resorts International in the second quarter valued at about $25,000. Mendota Financial Group LLC acquired a new position in MGM Resorts International in the 3rd quarter valued at about $27,000. Global Retirement Partners LLC raised its holdings in MGM Resorts International by 55.9% in the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock valued at $29,000 after acquiring an additional 281 shares during the period. Mather Group LLC. acquired a new stake in MGM Resorts International during the third quarter worth approximately $33,000. Finally, Elyxium Wealth LLC bought a new stake in shares of MGM Resorts International during the fourth quarter worth approximately $42,000. 68.11% of the stock is owned by 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.