MGM Resorts International (NYSE:MGM) Receives $52.54 Consensus Target Price from Analysts

Shares of MGM Resorts International (NYSE:MGM) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $52.36.

MGM has been the subject of several recent research reports. Truist Financial reduced their price target on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Jefferies Financial Group cut their price objective on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Wells Fargo & Company cut their price target on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Finally, Mizuho dropped their target price on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st.

MGM Resorts International Price Performance

Shares of MGM opened at $34.09 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. MGM Resorts International has a twelve month low of $33.28 and a twelve month high of $48.24. The stock has a market capitalization of $10.15 billion, a P/E ratio of 12.18, a P/E/G ratio of 3.10 and a beta of 2.21. The company has a 50 day moving average of $36.65 and a 200-day moving average of $38.76.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period last year, the business posted $0.64 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts forecast that MGM Resorts International will post 2.48 EPS for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Several institutional investors have recently made changes to their positions in MGM. Fisher Asset Management LLC increased its stake in MGM Resorts International by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock worth $177,777,000 after acquiring an additional 90,645 shares during the period. Goldentree Asset Management LP increased its position 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 purchasing an additional 1,390,599 shares during the period. HG Vora Capital Management LLC bought a new position in shares of MGM Resorts International in the third quarter worth $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in MGM Resorts International by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock valued at $89,832,000 after purchasing an additional 123,124 shares in the last quarter. Finally, FMR LLC lifted its position in MGM Resorts International by 5.0% during the third quarter. FMR LLC now owns 1,681,699 shares of the company’s stock worth $65,738,000 after purchasing an additional 79,486 shares during the period. 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.