MGM Resorts International (NYSE:MGM) Receives $45.53 Consensus Target Price from Brokerages

MGM Resorts International (NYSE:MGM) has received a consensus recommendation of “Hold” from the twenty-five analysts that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $45.3056.

Several research firms have recently issued reports on MGM. Morgan Stanley increased their target price on MGM Resorts International from $41.00 to $43.00 and gave the stock an “equal weight” rating in a report on Thursday, September 11th. Macquarie reduced their price objective on shares of MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, October 2nd. Mizuho set a $62.00 target price on shares of MGM Resorts International in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft cut their price target on shares of MGM Resorts International from $54.00 to $53.00 in a report on Monday, September 22nd. Finally, Truist Financial reduced their price target on shares of MGM Resorts International from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th.

MGM Resorts International Stock Performance

NYSE MGM opened at $36.88 on Wednesday. The firm has a 50-day moving average price of $33.81 and a two-hundred day moving average price of $35.10. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $41.32. The company has a market capitalization of $10.09 billion, a P/E ratio of 230.56, a P/E/G ratio of 2.48 and a beta of 1.48. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 1.80.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). The business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a net margin of 0.40% and a return on equity of 17.23%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.

Insider Activity

In other MGM Resorts International news, major shareholder Iac Inc. purchased 1,098,748 shares of the stock in a transaction dated Friday, December 5th. The stock was bought at an average price of $36.30 per share, with a total value of $39,884,552.40. Following the acquisition, the insider owned 65,822,350 shares of the company’s stock, valued at approximately $2,389,351,305. This represents a 1.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. XML Financial LLC boosted its stake in shares of MGM Resorts International by 0.9% in the 2nd quarter. XML Financial LLC now owns 30,884 shares of the company’s stock valued at $1,062,000 after purchasing an additional 287 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in MGM Resorts International by 4.1% in the second quarter. Concurrent Investment Advisors LLC now owns 7,975 shares of the company’s stock valued at $274,000 after buying an additional 315 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of MGM Resorts International by 0.8% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 39,763 shares of the company’s stock worth $1,378,000 after buying an additional 328 shares during the last quarter. Quarry LP increased its holdings in shares of MGM Resorts International by 24.1% during the first quarter. Quarry LP now owns 1,795 shares of the company’s stock worth $53,000 after buying an additional 349 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of MGM Resorts International by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 64,006 shares of the company’s stock valued at $2,218,000 after acquiring an additional 397 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

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.