MGM Resorts International (NYSE:MGM) Receives $42.13 Consensus Target Price from Analysts

Shares of MGM Resorts International (NYSE:MGM) have earned an average recommendation of “Hold” from the twenty ratings firms that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $42.1333.

Several brokerages have recently weighed in on MGM. UBS Group reduced their price objective on shares of MGM Resorts International from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, April 10th. Texas Capital upgraded shares of MGM Resorts International to a “strong-buy” rating in a research report on Thursday, January 8th. Barclays set a $37.00 price objective on shares of MGM Resorts International in a research report on Friday, February 6th. JPMorgan Chase & Co. boosted their price objective on shares of MGM Resorts International from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, April 16th. Finally, Wells Fargo & Company reduced their price objective on shares of MGM Resorts International from $31.00 to $30.00 and set an “underweight” rating for the company in a research report on Thursday, April 16th.

Insiders Place Their Bets

In related news, Director Keith A. Meister sold 37,500 shares of MGM Resorts International stock in a transaction on Monday, March 9th. The shares were sold at an average price of $34.27, for a total value of $1,285,125.00. Following the transaction, the director directly owned 5,347,978 shares in the company, valued at $183,275,206.06. This trade represents a 0.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Iac Inc. acquired 550,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was purchased at an average price of $37.30 per share, for a total transaction of $20,515,000.00. Following the completion of the transaction, the insider owned 66,372,350 shares in the company, valued at $2,475,688,655. The trade was a 0.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.38% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

A number of hedge funds and other institutional investors have recently bought and sold shares of MGM. AQR Capital Management LLC grew its position in MGM Resorts International by 202.5% in the 3rd quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock valued at $292,772,000 after buying an additional 5,654,757 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in MGM Resorts International by 81.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock valued at $264,874,000 after buying an additional 3,429,946 shares during the last quarter. Davis Selected Advisers grew its position in MGM Resorts International by 12.0% in the 4th quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock valued at $978,669,000 after buying an additional 2,866,750 shares during the last quarter. Norges Bank purchased a new position in MGM Resorts International in the 4th quarter valued at $82,348,000. Finally, Samlyn Capital LLC purchased a new position in MGM Resorts International in the 3rd quarter valued at $62,787,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $38.96 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. MGM Resorts International has a 52 week low of $29.18 and a 52 week high of $40.46. The stock has a market capitalization of $9.97 billion, a PE ratio of 51.95 and a beta of 1.35. The firm has a 50 day moving average of $36.71 and a two-hundred day moving average of $35.14.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 4th. The company reported $1.60 EPS for the quarter, topping the consensus estimate of $0.64 by $0.96. MGM Resorts International had a return on equity of 26.04% and a net margin of 1.17%.The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same period in the previous year, the firm posted $0.45 EPS. On average, research analysts predict that MGM Resorts International will post 1.99 EPS for the current fiscal year.

MGM Resorts International Company Profile

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.