MGM Resorts International (NYSE:MGM) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of MGM Resorts International (NYSE:MGM) have been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $53.93.

A number of research analysts recently issued reports on MGM shares. Morgan Stanley reduced their price target on MGM Resorts International from $44.00 to $43.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Wells Fargo & Company decreased their target price on MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Stifel Nicolaus lifted their price target on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Susquehanna boosted their price objective on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Finally, Macquarie dropped 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 research report on Friday, August 2nd.

MGM Resorts International Stock Down 1.2 %

Shares of MGM Resorts International stock opened at $37.31 on Monday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24. The company’s 50 day moving average price is $38.92 and its 200-day moving average price is $41.21. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 0.64 and a beta of 2.22.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 EPS. Equities research analysts forecast that MGM Resorts International will post 2.68 EPS for the current year.

Insider Transactions at MGM Resorts International

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 value of $4,443,120.00. Following the transaction, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were 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 $210,716,912.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William Hornbuckle purchased 58,900 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the completion of the transaction, the chief executive officer now directly owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. The disclosure for this purchase can be found here. Insiders have bought a total of 216,400 shares of company stock worth $7,312,197 in the last ninety days. Insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its holdings in MGM Resorts International by 4.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 43,341 shares of the company’s stock worth $1,936,000 after acquiring an additional 1,815 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of MGM Resorts International by 1.0% in the fourth quarter. Franklin Resources Inc. now owns 61,579 shares of the company’s stock worth $2,751,000 after purchasing an additional 590 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of MGM Resorts International by 112.1% during the 4th quarter. Hsbc Holdings PLC now owns 1,505,982 shares of the company’s stock valued at $67,466,000 after purchasing an additional 795,920 shares during the period. Contrarius Investment Management Ltd bought a new stake in shares of MGM Resorts International during the 4th quarter valued at $9,079,000. Finally, Stifel Financial Corp lifted its stake in shares of MGM Resorts International by 1.9% during the 4th quarter. Stifel Financial Corp now owns 182,366 shares of the company’s stock valued at $8,148,000 after buying an additional 3,358 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

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.