Analysts Set MGM Resorts International (NYSE:MGM) Price Target at $51.29

MGM Resorts International (NYSE:MGM) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $51.29.

MGM has been the topic of several recent analyst reports. Wedbush reissued an “outperform” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Leerink Partners lowered shares of MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. BTIG Research lowered shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Macquarie reissued an “outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Truist Financial decreased their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th.

Insiders Place Their Bets

In other news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the transaction, the chief financial officer now directly owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MGM. MidAtlantic Capital Management Inc. acquired a new position in shares of MGM Resorts International in the 3rd quarter worth approximately $28,000. Global Trust Asset Management LLC acquired a new position in shares of MGM Resorts International in the 4th quarter worth approximately $28,000. Assetmark Inc. lifted its position in shares of MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after purchasing an additional 411 shares during the period. True Wealth Design LLC acquired a new position in shares of MGM Resorts International in the 4th quarter worth approximately $33,000. Finally, Global Retirement Partners LLC lifted its position in shares of MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Price Performance

Shares of MGM Resorts International stock opened at $31.42 on Monday. MGM Resorts International has a twelve month low of $29.99 and a twelve month high of $48.25. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The company has a 50-day simple moving average of $34.02 and a two-hundred day simple moving average of $36.07. The stock has a market capitalization of $8.97 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. Analysts forecast that MGM Resorts International will post 2.21 EPS for the current 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.