MGM Resorts International (NYSE:MGM)‘s stock had its “overweight” rating reissued by research analysts at Credit Agricole SA in a research note issued to investors on Tuesday. They currently have a $29.00 price objective on the stock.

A number of other equities research analysts have also issued reports on the stock. Deutsche Bank AG reaffirmed a “buy” rating on shares of MGM Resorts International in a report on Friday. Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price objective on shares of MGM Resorts International in a report on Thursday, September 15th. Susquehanna reaffirmed a “positive” rating and set a $30.00 price objective on shares of MGM Resorts International in a report on Thursday, September 8th. Buckingham Research assumed coverage on shares of MGM Resorts International in a report on Thursday, August 11th. They set a “buy” rating and a $31.00 price objective for the company. Finally, Zacks Investment Research lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of C$27.71.

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

Shares of MGM Resorts International (NYSE:MGM) opened at 24.94 on Tuesday. MGM Resorts International has a 12-month low of $16.18 and a 12-month high of $25.72. The company’s market capitalization is $14.11 billion. The company’s 50-day moving average is $24.49 and its 200-day moving average is $22.98.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by $0.02. MGM Resorts International had a negative net margin of 1.90% and a positive return on equity of 3.65%. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same period last year, the business earned $0.19 earnings per share. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. Analysts predict that MGM Resorts International will post $0.67 EPS for the current year.

In other news, EVP John Mcmanus sold 12,363 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of C$24.44, for a total transaction of C$302,151.72. Following the completion of the transaction, the executive vice president now directly owns 40,071 shares of the company’s stock, valued at approximately C$979,335.24. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Alexis Herman sold 2,391 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of C$24.66, for a total value of C$58,962.06. Following the transaction, the director now directly owns 24,511 shares of the company’s stock, valued at C$604,441.26. The disclosure for this sale can be found here. Insiders own 16.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Exane Derivatives increased its position in shares of MGM Resorts International by 328.3% in the first quarter. Exane Derivatives now owns 4,698 shares of the company’s stock valued at $101,000 after buying an additional 3,601 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of MGM Resorts International by 155.2% in the second quarter. Global X Management Co. LLC now owns 4,551 shares of the company’s stock valued at $103,000 after buying an additional 2,768 shares during the last quarter. Mizuho Asset Management Co. Ltd. boosted its stake in shares of MGM Resorts International by 146.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 6,894 shares of the company’s stock valued at $156,000 after buying an additional 4,095 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of MGM Resorts International during the second quarter valued at approximately $182,000. Finally, Pacer Advisors Inc. boosted its stake in shares of MGM Resorts International by 10.4% in the second quarter. Pacer Advisors Inc. now owns 9,075 shares of the company’s stock valued at $205,000 after buying an additional 852 shares during the last quarter. 71.24% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Company Profile

MGM Resorts International is a holding company. The Company owns and operates casino resorts. It operates in two segments: wholly owned domestic resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail and other resort amenities. It has additional business activities, including its investments in unconsolidated affiliates, and other corporate and management operations.

5 Day Chart for NYSE:MGM

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