Analysts Set MGM Resorts International (NYSE:MGM) PT at $53.15

Shares of MGM Resorts International (NYSE:MGM) have been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $53.15.

A number of brokerages have commented on MGM. Macquarie reduced their target price on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Morgan Stanley increased their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company cut their price target on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Finally, Stifel Nicolaus upped their target price on MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, August 1st.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the 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 sale, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.13% of the stock is currently owned by corporate insiders.

Institutional Trading of MGM Resorts International

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of MGM Resorts International by 40.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,099 shares of the company’s stock worth $1,666,000 after purchasing an additional 10,886 shares during the period. Texas Permanent School Fund Corp raised its position in shares of MGM Resorts International by 0.4% in the first quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock worth $2,667,000 after acquiring an additional 245 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of MGM Resorts International by 31.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 22,622 shares of the company’s stock worth $1,068,000 after acquiring an additional 5,402 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of MGM Resorts International by 30.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,483 shares of the company’s stock worth $825,000 after acquiring an additional 4,063 shares in the last quarter. Finally, Forsta AP Fonden increased its stake in shares of MGM Resorts International by 63.9% in the 1st quarter. Forsta AP Fonden now owns 90,500 shares of the company’s stock valued at $4,273,000 after purchasing an additional 35,300 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $37.15 on Tuesday. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The company has a market capitalization of $11.06 billion, a PE ratio of 13.27, a P/E/G ratio of 2.66 and a beta of 2.23. The company has a 50 day moving average price of $38.48 and a 200-day moving average price of $39.79. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). The business had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. As a group, equities analysts forecast that MGM Resorts International will post 2.5 earnings per share for the current year.

About MGM Resorts International

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.