Brokerages Set MGM Resorts International (NYSE:MGM) PT at $51.29

MGM Resorts International (NYSE:MGM) has been given a consensus recommendation of “Moderate Buy” by the twenty-one research firms that are currently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $50.71.

MGM has been the subject of a number of research reports. Canaccord Genuity Group reiterated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Leerink Partners lowered MGM Resorts International to a “market perform” rating in a research report on Thursday, February 13th. Macquarie reaffirmed an “outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, February 13th. Morgan Stanley lowered their price objective on shares of MGM Resorts International from $37.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Barclays restated an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th.

Insider Buying and Selling

In other MGM Resorts International news, CFO Jonathan S. Halkyard bought 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the transaction, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. The trade was a 15.23 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares in the company, valued at approximately $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MGM. Keystone Wealth Services LLC grew its position in MGM Resorts International by 10.9% during the first quarter. Keystone Wealth Services LLC now owns 7,275 shares of the company’s stock worth $216,000 after buying an additional 717 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of MGM Resorts International during the 1st quarter worth $89,000. Wealth Enhancement Advisory Services LLC increased its position in shares of MGM Resorts International by 60.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 61,748 shares of the company’s stock worth $1,830,000 after purchasing an additional 23,234 shares during the period. Union Bancaire Privee UBP SA raised its stake in MGM Resorts International by 16.7% in the first quarter. Union Bancaire Privee UBP SA now owns 5,935 shares of the company’s stock valued at $180,000 after purchasing an additional 849 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in MGM Resorts International by 3.6% during the first quarter. Fifth Third Bancorp now owns 15,328 shares of the company’s stock worth $454,000 after purchasing an additional 535 shares during the period. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Price Performance

Shares of MGM opened at $28.89 on Friday. The stock has a 50 day simple moving average of $32.23 and a 200 day simple moving average of $35.00. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $47.26. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The firm has a market capitalization of $8.18 billion, a PE ratio of 12.04, a P/E/G ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share 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%. Sell-side analysts predict that MGM Resorts International will post 2.21 EPS 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.