MGM Resorts International (NYSE:MGM) Receives $51.29 Consensus Price Target from Brokerages

MGM Resorts International (NYSE:MGM) has been given a consensus recommendation of “Moderate Buy” by the twenty-one ratings firms that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $51.29.

Several research analysts have recently commented on MGM shares. Macquarie restated an “outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, February 13th. Truist Financial dropped their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Jefferies Financial Group lowered their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Leerink Partners lowered shares of MGM Resorts International to a “market perform” rating in a research note on Thursday, February 13th. Finally, Susquehanna Bancshares raised their target price on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th.

Insider Transactions at MGM Resorts International

In related news, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. This trade represents a 24.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the acquisition, the chief financial officer now directly owns 75,648 shares in the company, valued at $2,433,596.16. The trade was a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.13% of the stock is owned by insiders.

Hedge Funds Weigh In On MGM Resorts International

Several institutional investors have recently added to or reduced their stakes in MGM. Norges Bank bought a new position in MGM Resorts International during the 4th quarter valued at about $88,033,000. HG Vora Capital Management LLC bought a new position in MGM Resorts International during the 3rd quarter valued at about $97,725,000. Eminence Capital LP bought a new position in shares of MGM Resorts International in the fourth quarter worth about $72,408,000. Goldentree Asset Management LP raised its stake in shares of MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after acquiring an additional 1,390,599 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of MGM Resorts International by 12,726.8% in the fourth quarter. AQR Capital Management LLC now owns 1,278,965 shares of the company’s stock worth $44,316,000 after acquiring an additional 1,268,994 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Stock Up 2.6 %

MGM stock opened at $32.69 on Monday. The company has a 50 day moving average of $34.03 and a two-hundred day moving average of $36.14. MGM Resorts International has a 12-month low of $29.99 and a 12-month high of $48.25. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.98 and a beta of 2.18. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, equities analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal 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.