MGM Resorts International (NYSE:MGM) Receives $44.91 Average Target Price from Analysts

Shares of MGM Resorts International (NYSE:MGM) have been given an average recommendation of “Hold” by the twenty-five brokerages that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $44.6765.

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on MGM Resorts International from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, January 9th. UBS Group cut their target price on 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. Capital One Financial lowered their price target on shares of MGM Resorts International from $47.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, December 5th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $33.00 target price on shares of MGM Resorts International in a research note on Monday, December 15th. Finally, Truist Financial reissued a “hold” rating and issued a $38.00 price target (down previously from $45.00) on shares of MGM Resorts International in a research note on Tuesday.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, major shareholder Iac Inc. purchased 1,098,748 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were acquired at an average price of $36.30 per share, with a total value of $39,884,552.40. Following the purchase, the insider directly owned 65,822,350 shares in the company, valued at approximately $2,389,351,305. This trade represents a 1.70% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 3.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. CYBER HORNET ETFs LLC purchased a new stake in shares of MGM Resorts International in the 2nd quarter valued at approximately $25,000. Mendota Financial Group LLC acquired a new stake in MGM Resorts International in the 3rd quarter valued at approximately $27,000. Mather Group LLC. purchased a new stake in MGM Resorts International in the third quarter valued at approximately $33,000. Bayforest Capital Ltd acquired a new position in MGM Resorts International during the first quarter worth $43,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in shares of MGM Resorts International by 66.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company’s stock worth $45,000 after buying an additional 529 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Price Performance

MGM stock traded down $0.41 during trading on Friday, hitting $35.00. The stock had a trading volume of 5,298,309 shares, compared to its average volume of 3,813,495. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $41.32. The company’s 50-day moving average price is $35.15 and its two-hundred day moving average price is $35.35. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.23 and a quick ratio of 1.19. The stock has a market capitalization of $9.57 billion, a P/E ratio of 218.75, a PEG ratio of 2.71 and a beta of 1.46.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, October 29th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.13). The business had revenue of $4.25 billion for the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a return on equity of 17.23% and a net margin of 0.40%.The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $0.54 EPS. As a group, research analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal 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.