MGM Resorts International (NYSE:MGM) Receives $53.57 Average Target Price from Brokerages

MGM Resorts International (NYSE:MGM) has been given an average rating of “Moderate Buy” by the fourteen brokerages that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $54.08.

MGM has been the subject of several analyst reports. Susquehanna increased their target price on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Macquarie decreased their price objective on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Morgan Stanley upped their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft cut their price target on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Finally, UBS Group upgraded MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd.

Insider Buying and Selling at MGM Resorts International

In related news, CFO Jonathan S. Halkyard bought 10,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $34.00 per share, with a total value of $340,000.00. Following the transaction, the chief financial officer now owns 38,299 shares in the company, valued at $1,302,166. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $34.00 per share, for a total transaction of $340,000.00. Following the acquisition, the chief financial officer now owns 38,299 shares of the company’s stock, valued at approximately $1,302,166. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 216,400 shares of company stock worth $7,312,197 over the last ninety days. Company insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

Several hedge funds have recently bought and sold shares of the business. UMB Bank n.a. boosted its stake in shares of MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares during the period. Texas Permanent School Fund Corp lifted its holdings in MGM Resorts International by 0.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock valued at $2,667,000 after buying an additional 245 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in MGM Resorts International by 1.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock valued at $1,018,000 after buying an additional 278 shares during the period. HB Wealth Management LLC grew its stake in MGM Resorts International by 6.3% in the 2nd quarter. HB Wealth Management LLC now owns 4,917 shares of the company’s stock worth $219,000 after acquiring an additional 293 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of MGM Resorts International by 1.3% during the first quarter. US Bancorp DE now owns 23,558 shares of the company’s stock worth $1,112,000 after acquiring an additional 298 shares during the period. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Up 1.2 %

Shares of MGM stock opened at $40.10 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.42. The company has a market cap of $12.58 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 0.92 and a beta of 2.23. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24. The firm has a fifty day moving average price of $38.35 and a 200-day moving average price of $40.37.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.20. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the company posted $0.59 earnings per share. MGM Resorts International’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts predict that MGM Resorts International will post 2.55 earnings per share 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.