MGM Resorts International (NYSE:MGM) Given Average Rating of “Hold” by Analysts

MGM Resorts International (NYSE:MGM) has been given a consensus recommendation of “Hold” by the twenty-one analysts that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $50.5882.

Several analysts have recently commented on MGM shares. UBS Group set a $48.00 target price on MGM Resorts International in a research note on Thursday. Mizuho cut their price target on MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. Wells Fargo & Company raised their price objective on MGM Resorts International from $30.00 to $33.00 and gave the company an “underweight” rating in a research note on Thursday, April 30th. KeyCorp upgraded MGM Resorts International from a “sector weight” rating to an “overweight” rating and set a $117.00 price objective for the company in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. upped their target price on MGM Resorts International from $46.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th.

Insider Buying and Selling

In other MGM Resorts International news, Director Daniel J. Taylor sold 6,675 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $38.44, for a total transaction of $256,587.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.38% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Several hedge funds and other institutional investors have recently made changes to their positions in MGM. CYBER HORNET ETFs LLC acquired a new stake in shares of MGM Resorts International in the 2nd quarter worth about $25,000. Global Retirement Partners LLC boosted its stake in MGM Resorts International by 55.9% during the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock valued at $29,000 after purchasing an additional 281 shares during the last quarter. International Assets Investment Management LLC acquired a new position in MGM Resorts International during the 1st quarter valued at about $30,000. Optiver Holding B.V. bought a new stake in MGM Resorts International during the 1st quarter worth approximately $35,000. Finally, Elyxium Wealth LLC bought a new stake in MGM Resorts International during the 4th quarter worth approximately $42,000. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Stock Performance

MGM stock opened at $47.13 on Friday. The stock has a 50-day moving average price of $43.21 and a 200-day moving average price of $38.62. MGM Resorts International has a 1-year low of $29.18 and a 1-year high of $51.59. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 1.93. The firm has a market cap of $12.06 billion, a PE ratio of 65.46 and a beta of 1.29.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities research analysts expect that MGM Resorts International will post 1.95 earnings per share for the current year.

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.