Brokerages Set MGM Resorts International (NYSE:MGM) Target Price at $47.12

Shares of MGM Resorts International (NYSE:MGM) have been given a consensus recommendation of “Hold” by the twenty-two research firms that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $47.1176.

MGM has been the topic of a number of analyst reports. Weiss Ratings raised MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 15th. Jefferies Financial Group downgraded MGM Resorts International from a “buy” rating to a “hold” rating and cut their price target for the company from $50.00 to $44.00 in a research note on Friday, May 1st. Citigroup cut their price target on MGM Resorts International from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Barclays upped their price objective on shares of MGM Resorts International from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Finally, The Goldman Sachs Group upped their price objective on shares of MGM Resorts International from $34.00 to $38.00 and gave the company a “sell” rating in a research report on Thursday, April 30th.

MGM Resorts International Stock Performance

MGM stock opened at $36.53 on Friday. The business’s fifty day moving average is $37.45 and its 200-day moving average is $35.87. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 1.93. The company has a market cap of $9.34 billion, a P/E ratio of 50.73 and a beta of 1.28. MGM Resorts International has a twelve month low of $29.18 and a twelve month high of $40.94.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.37 billion. MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $0.69 EPS. Equities research analysts forecast that MGM Resorts International will post 1.99 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Iac Inc. acquired 450,000 shares of the stock in a transaction that occurred on Tuesday, March 24th. The stock was acquired at an average price of $37.13 per share, for a total transaction of $16,708,500.00. Following the transaction, the insider directly owned 66,822,350 shares in the company, valued at approximately $2,481,113,855.50. This represents a 0.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Keith A. Meister sold 37,500 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the completion of the sale, the director owned 5,347,978 shares of the company’s stock, valued at approximately $183,275,206.06. This represents a 0.70% decrease in their position. The disclosure for this sale is available in the SEC filing. 3.38% of the stock is owned by corporate insiders.

Institutional Trading of MGM Resorts International

A number of large investors have recently made changes to their positions in the company. Whittier Trust Co. increased its position in shares of MGM Resorts International by 2.5% in the 1st quarter. Whittier Trust Co. now owns 10,778 shares of the company’s stock valued at $405,000 after buying an additional 262 shares in the last quarter. Global Retirement Partners LLC increased its holdings in MGM Resorts International by 55.9% during the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 281 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in MGM Resorts International by 4.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 7,700 shares of the company’s stock worth $286,000 after purchasing an additional 313 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in MGM Resorts International by 0.8% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 39,763 shares of the company’s stock worth $1,378,000 after purchasing an additional 328 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in MGM Resorts International by 23.1% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,893 shares of the company’s stock worth $69,000 after purchasing an additional 355 shares in the last quarter. Institutional investors 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.