MGM Resorts International (NYSE:MGM) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of MGM Resorts International (NYSE:MGM) have received an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $54.00.

MGM has been the topic of a number of analyst reports. Macquarie dropped their target price on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company dropped their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. BTIG Research assumed coverage on MGM Resorts International in a report on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 price objective for the company. Morgan Stanley increased their target price on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, JMP Securities lowered their price target on MGM Resorts International from $57.00 to $56.00 and set a “market outperform” rating for the company in a report on Monday, October 14th.

MGM Resorts International Stock Up 0.1 %

Shares of NYSE:MGM opened at $40.52 on Friday. The company has a market capitalization of $12.71 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 0.92 and a beta of 2.23. The company has a 50 day moving average of $38.30 and a two-hundred day moving average of $40.38. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.65.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.20. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the business earned $0.59 EPS. The business’s revenue was up 9.8% on a year-over-year basis. As a group, analysts forecast that MGM Resorts International will post 2.55 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Paul J. Salem acquired 147,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the purchase, the director now directly owns 1,702,500 shares of the company’s stock, valued at $57,544,500. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Paul J. Salem bought 147,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $33.80 per share, with a total value of $4,985,500.00. Following the completion of the purchase, the director now directly owns 1,702,500 shares of the company’s stock, valued at $57,544,500. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $34.00 per share, for a total transaction of $340,000.00. Following the completion of the acquisition, the chief financial officer now owns 38,299 shares of the company’s stock, valued at $1,302,166. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 216,400 shares of company stock worth $7,312,197 over the last three months. Corporate insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of large investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC acquired a new stake in shares of MGM Resorts International during the 2nd quarter valued at $28,000. Eastern Bank acquired a new stake in shares of MGM Resorts International during the third quarter worth $35,000. EverSource Wealth Advisors LLC raised its position in shares of MGM Resorts International by 60.7% during the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after purchasing an additional 329 shares during the period. UMB Bank n.a. lifted its holdings in shares of MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of MGM Resorts International in the 2nd quarter valued at $49,000. 68.11% of the stock is currently owned by institutional investors.

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.