MGM Resorts International (NYSE:MGM) Stock Has Average Target Price of $44.29

Shares of MGM Resorts International (NYSE:MGM) have earned an average rating of “Hold” from the twenty-two ratings firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, nine have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $44.29.

A number of equities analysts recently weighed in on MGM shares. HSBC raised MGM Resorts International to a “strong-buy” rating in a report on Thursday, July 30th. Citigroup decreased their target price on shares of MGM Resorts International from $48.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, October 12th. Argus cut their price target on shares of MGM Resorts International from $55.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, November 5th. Truist Financial reduced their price objective on MGM Resorts International from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, October 29th. Finally, UBS Group decreased their price objective on MGM Resorts International from $50.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, September 11th.

MGM Resorts International Stock Performance

NYSE MGM opened at $32.87 on Friday. The company has a market capitalization of $8.32 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.95 and a beta of 1.34. The company has a 50-day simple moving average of $33.44 and a 200 day simple moving average of $38.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.20 and a current ratio of 1.24. MGM Resorts International has a 52-week low of $26.71 and a 52-week high of $51.59.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, October 28th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.15). The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 20.58% and a net margin of 3.92%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 EPS. On average, research analysts predict that MGM Resorts International will post 1.62 EPS for the current year.

Insider Transactions at MGM Resorts International

In other news, Director Keith Meister purchased 7,518 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were acquired at an average price of $30.24 per share, with a total value of $227,344.32. Following the acquisition, the director directly owned 7,093,570 shares in the company, valued at approximately $214,509,556.80. The trade was a 0.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.38% of the stock is currently owned by company insiders.

Institutional Trading of MGM Resorts International

Several large investors have recently modified their holdings of the business. Tema ETFs LLC boosted its stake in MGM Resorts International by 10.6% in the 2nd quarter. Tema ETFs LLC now owns 3,016 shares of the company’s stock worth $144,000 after buying an additional 290 shares during the last quarter. Allworth Financial LP increased its stake in shares of MGM Resorts International by 3.4% during the 3rd quarter. Allworth Financial LP now owns 9,765 shares of the company’s stock valued at $303,000 after acquiring an additional 325 shares during the last quarter. New Mexico Educational Retirement Board raised its stake in MGM Resorts International by 4.4% during the second quarter. New Mexico Educational Retirement Board now owns 9,550 shares of the company’s stock worth $457,000 after purchasing an additional 400 shares during the period. AlphaCore Capital LLC boosted its holdings in shares of MGM Resorts International by 4.2% in the 3rd quarter. AlphaCore Capital LLC now owns 9,935 shares of the company’s stock valued at $308,000 after purchasing an additional 405 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of MGM Resorts International by 41.3% in the 3rd quarter. Versant Capital Management Inc now owns 1,437 shares of the company’s stock valued at $45,000 after purchasing an additional 420 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

About MGM Resorts International

MGM Resorts International is a global hospitality and entertainment company that develops, owns and operates resorts featuring casinos, hotels, restaurants, live entertainment, meeting spaces and other leisure amenities. Its portfolio includes well-known Las Vegas properties as well as resorts in other U.S. markets.

The company also has a presence in Macau through its MGM China subsidiary, which operates integrated resorts including MGM Macau and MGM Cotai. MGM Resorts offers online sports betting and gaming through BetMGM, its digital gaming brand.

Originally known as MGM Grand Inc, the company adopted the name MGM Resorts International in 2010.