MGM Resorts International (NYSE:MGM) Receives $43.85 Average PT from Analysts

Shares of MGM Resorts International (NYSE:MGMGet Free Report) have been given an average rating of “Hold” by the twenty-three analysts that are covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $43.8235.

Several research analysts have recently weighed in on the company. Truist Financial increased their price target on MGM Resorts International from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Friday. Stifel Nicolaus increased their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday. Barclays set a $37.00 target price on shares of MGM Resorts International in a research note on Friday. Texas Capital upgraded shares of MGM Resorts International to a “strong-buy” rating in a research note on Thursday, January 8th. Finally, UBS Group reduced their price objective on shares of MGM Resorts International from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Monday, November 17th.

View Our Latest Stock Report on MGM

MGM Resorts International Trading Up 3.3%

Shares of MGM stock opened at $37.49 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 1.80. The firm has a market cap of $10.25 billion, a P/E ratio of 49.99 and a beta of 1.44. The company has a 50 day moving average of $35.62 and a 200-day moving average of $35.01. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $41.32.

MGM Resorts International (NYSE:MGMGet Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.96. MGM Resorts International had a return on equity of 25.46% and a net margin of 1.17%.The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same period in the prior year, the company earned $0.45 earnings per share. Sell-side analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.

More MGM Resorts International News

Here are the key news stories impacting MGM Resorts International this week:

Insider Buying and Selling at MGM Resorts International

In related news, major shareholder Iac Inc. acquired 1,098,748 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were bought at an average cost of $36.30 per share, for a total transaction of $39,884,552.40. Following the purchase, the insider owned 65,822,350 shares in the company, valued at $2,389,351,305. This trade represents a 1.70% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.06% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in MGM Resorts International by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,652 shares of the company’s stock valued at $582,000 after acquiring an additional 951 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of MGM Resorts International by 12.1% during the 1st quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock valued at $115,000 after purchasing an additional 421 shares in the last quarter. Woodline Partners LP increased its holdings in shares of MGM Resorts International by 39.1% in the first quarter. Woodline Partners LP now owns 18,901 shares of the company’s stock worth $560,000 after purchasing an additional 5,312 shares during the period. QRG Capital Management Inc. increased its holdings in shares of MGM Resorts International by 1.4% in the second quarter. QRG Capital Management Inc. now owns 75,346 shares of the company’s stock worth $2,591,000 after purchasing an additional 1,016 shares during the period. Finally, Valeo Financial Advisors LLC purchased a new stake in shares of MGM Resorts International in the second quarter worth $236,000. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Company Profile

(Get Free Report)

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.

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Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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