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

Shares of MGM Resorts International (NYSE:MGM) have been given an average recommendation of “Hold” by the twenty-one brokerages that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $50.5882.

MGM has been the subject of several analyst reports. Barclays raised their price target on shares of MGM Resorts International from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Mizuho reduced their price objective on shares of MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. The Goldman Sachs Group increased their price objective on MGM Resorts International from $34.00 to $38.00 and gave the company a “sell” rating in a report on Thursday, April 30th. Capital One Financial raised their target price on MGM Resorts International from $46.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Finally, JPMorgan Chase & Co. lifted their target price on MGM Resorts International from $46.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, June 12th.

Insider Activity

In other news, Director Daniel J. Taylor sold 6,675 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $38.44, for a total transaction of $256,587.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.38% of the stock is owned by company insiders.

Institutional Trading of MGM Resorts International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in MGM Resorts International by 202.5% during the 3rd quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock worth $292,772,000 after purchasing an additional 5,654,757 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of MGM Resorts International by 81.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock worth $264,874,000 after purchasing an additional 3,429,946 shares during the period. Davis Selected Advisers boosted its stake in shares of MGM Resorts International by 12.0% in the 4th quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock valued at $978,669,000 after purchasing an additional 2,866,750 shares during the last quarter. Norges Bank bought a new stake in shares of MGM Resorts International in the 4th quarter valued at $82,348,000. Finally, Samlyn Capital LLC acquired a new stake in shares of MGM Resorts International during the third quarter worth $62,787,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $47.13 on Friday. The business has a 50 day moving average of $43.21 and a 200-day moving average of $38.62. The company has a market capitalization of $12.06 billion, a P/E ratio of 65.46 and a beta of 1.29. MGM Resorts International has a 1 year low of $29.18 and a 1 year high of $51.59. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.33 and a quick ratio of 1.30.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, April 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). MGM Resorts International had a return on equity of 24.43% and a net margin of 1.03%.The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities research analysts predict that MGM Resorts International will post 1.95 earnings per share for the current year.

MGM Resorts International Company Profile

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.