MGM Resorts International (NYSE:MGM) Given Consensus Recommendation of “Hold” by Brokerages

MGM Resorts International (NYSE:MGM) has received an average rating of “Hold” from the twenty-one research firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $52.0176.

A number of equities research analysts recently weighed in on MGM shares. Barclays raised their price target on shares of MGM Resorts International from $39.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on MGM Resorts International from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Jefferies Financial Group reaffirmed a “hold” rating on shares of MGM Resorts International in a research report on Thursday, July 2nd. Weiss Ratings raised MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 15th. Finally, JPMorgan Chase & Co. raised their price objective on MGM Resorts International from $46.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, June 12th.

MGM Resorts International Price Performance

Shares of NYSE MGM traded up $0.44 during trading on Friday, reaching $46.88. The company had a trading volume of 1,609,269 shares, compared to its average volume of 3,213,209. MGM Resorts International has a twelve month low of $29.18 and a twelve month high of $51.59. The stock has a market capitalization of $12.00 billion, a PE ratio of 65.12 and a beta of 1.29. The stock has a 50-day moving average price of $43.92 and a two-hundred day moving average price of $38.96. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 1.93.

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 the consensus estimate of $0.56 by ($0.07). The company had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.37 billion. MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 earnings per share. As a group, sell-side analysts predict that MGM Resorts International will post 1.95 earnings per share for the current year.

Insider Activity at MGM Resorts International

In related news, Director Daniel J. Taylor sold 6,675 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $38.44, for a total transaction of $256,587.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 3.38% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Large investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in MGM Resorts International by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,652 shares of the company’s stock valued at $582,000 after buying an additional 951 shares during the period. NewEdge Advisors LLC lifted its stake in shares of MGM Resorts International by 12.1% in the 1st quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock worth $115,000 after acquiring an additional 421 shares during the period. Woodline Partners LP boosted its holdings in shares of MGM Resorts International by 39.1% in the first quarter. Woodline Partners LP now owns 18,901 shares of the company’s stock valued at $560,000 after acquiring an additional 5,312 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of MGM Resorts International by 57.2% in the second quarter. EverSource Wealth Advisors LLC now owns 3,248 shares of the company’s stock valued at $112,000 after acquiring an additional 1,182 shares in the last quarter. Finally, Jump Financial LLC increased its stake in shares of MGM Resorts International by 221.9% during the second quarter. Jump Financial LLC now owns 26,782 shares of the company’s stock valued at $921,000 after acquiring an additional 18,463 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

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.