Analysts Set MGM Resorts International (NYSE:MGM) Price Target at $52.54

Shares of MGM Resorts International (NYSE:MGM) have been given an average rating of “Moderate Buy” by the fifteen analysts that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $52.36.

A number of brokerages have recently commented on MGM. Truist Financial decreased their price objective on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Barclays reduced their price target on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Wells Fargo & Company lowered their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Morgan Stanley raised their price objective on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

A number of hedge funds have recently added to or reduced their stakes in MGM. International Assets Investment Management LLC bought a new position in shares of MGM Resorts International during the 2nd quarter worth about $28,000. Commonwealth Equity Services LLC raised its position in shares of MGM Resorts International by 8.6% during the second quarter. Commonwealth Equity Services LLC now owns 167,179 shares of the company’s stock worth $7,429,000 after purchasing an additional 13,291 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of MGM Resorts International by 24.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 8,601 shares of the company’s stock worth $369,000 after purchasing an additional 1,710 shares in the last quarter. Summit Financial LLC bought a new stake in MGM Resorts International during the 2nd quarter valued at $205,000. Finally, Convergence Investment Partners LLC acquired a new position in MGM Resorts International during the second quarter worth $661,000. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Trading Up 1.3 %

NYSE MGM opened at $34.09 on Wednesday. MGM Resorts International has a 52 week low of $33.28 and a 52 week high of $48.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The stock’s 50 day moving average price is $36.65 and its two-hundred day moving average price is $38.79. The stock has a market capitalization of $10.15 billion, a price-to-earnings 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 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. As a group, analysts anticipate that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

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.