Brokerages Set MGM Resorts International (NYSE:MGM) Price Target at $48.50

MGM Resorts International (NYSE:MGM) has earned a consensus rating of “Moderate Buy” from the twenty-four research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $47.5833.

Several research firms have issued reports on MGM. Stifel Nicolaus set a $45.00 price target on MGM Resorts International in a research note on Thursday. Susquehanna lifted their target price on MGM Resorts International from $50.00 to $60.00 and gave the company a “positive” rating in a research report on Tuesday, July 29th. Mizuho set a $62.00 target price on MGM Resorts International in a research report on Thursday. UBS Group lowered their target price on MGM Resorts International from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, September 11th. Finally, Truist Financial lowered their target price on 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

MGM opened at $32.06 on Tuesday. The business’s 50-day moving average price is $34.59 and its two-hundred day moving average price is $34.47. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $41.32. The company has a market capitalization of $8.77 billion, a price-to-earnings ratio of 200.38, a P/E/G ratio of 1.40 and a beta of 1.67. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.18.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.13). MGM Resorts International had a net margin of 0.40% and a return on equity of 16.95%. The firm had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the business earned $0.54 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In related news, insider John Mcmanus sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $36.12, for a total value of $2,167,200.00. Following the completion of the sale, the insider directly owned 31,521 shares in the company, valued at approximately $1,138,538.52. The trade was a 65.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Keith A. Meister sold 242,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $35.42, for a total value of $8,571,640.00. Following the completion of the sale, the director owned 5,385,478 shares of the company’s stock, valued at approximately $190,753,630.76. This trade represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MGM Resorts International

Several institutional investors have recently made changes to their positions in MGM. Vontobel Holding Ltd. raised its position in MGM Resorts International by 74.6% during the first quarter. Vontobel Holding Ltd. now owns 21,778 shares of the company’s stock valued at $646,000 after purchasing an additional 9,304 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in MGM Resorts International by 60.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 61,748 shares of the company’s stock valued at $1,830,000 after purchasing an additional 23,234 shares in the last quarter. Key Colony Management LLC raised its position in MGM Resorts International by 9.8% during the second quarter. Key Colony Management LLC now owns 615,000 shares of the company’s stock valued at $21,150,000 after purchasing an additional 55,000 shares in the last quarter. D.A. Davidson & CO. increased its holdings in shares of MGM Resorts International by 3.7% during the first quarter. D.A. Davidson & CO. now owns 303,470 shares of the company’s stock worth $8,995,000 after buying an additional 10,690 shares in the last quarter. Finally, Ground Swell Capital LLC acquired a new position in shares of MGM Resorts International during the first quarter worth $248,000. 68.11% of the stock is currently owned by institutional investors.

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.