MGM Resorts International (NYSE:MGM) has earned an average rating of “Buy” from the eighteen analysts that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $38.62.

A number of brokerages have weighed in on MGM. Morgan Stanley increased their price target on shares of MGM Resorts International from $40.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, March 27th. Telsey Advisory Group began coverage on shares of MGM Resorts International in a report on Wednesday, March 14th. They issued a “market perform” rating and a $39.00 price target for the company. Barclays increased their price target on shares of MGM Resorts International from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Zacks Investment Research downgraded shares of MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Finally, Bank of America increased their price target on shares of MGM Resorts International from $38.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, February 21st.

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MGM Resorts International stock traded up $0.47 during mid-day trading on Wednesday, reaching $34.87. The company had a trading volume of 371,740 shares, compared to its average volume of 8,232,811. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.77 and a quick ratio of 0.73. MGM Resorts International has a 52 week low of $27.01 and a 52 week high of $38.41. The company has a market cap of $19,483.04, a PE ratio of 34.21, a price-to-earnings-growth ratio of 1.63 and a beta of 1.40.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. MGM Resorts International had a net margin of 17.92% and a return on equity of 5.78%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the firm earned $0.11 EPS. The business’s revenue was up 5.5% on a year-over-year basis. analysts expect that MGM Resorts International will post 1.4 earnings per share for the current fiscal year.

In related news, President William Hornbuckle sold 60,000 shares of the stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $36.36, for a total transaction of $2,181,600.00. Following the completion of the sale, the president now owns 26,289 shares in the company, valued at approximately $955,868.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Warwick Grounds bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 14th. The shares were purchased at an average price of $35.50 per share, with a total value of $35,500.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 46,000 shares of company stock valued at $49,000 and have sold 142,646 shares valued at $5,104,710. 0.43% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Cerebellum GP LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter worth about $126,000. Northwestern Mutual Wealth Management Co. increased its position in shares of MGM Resorts International by 88.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,945 shares of the company’s stock worth $165,000 after purchasing an additional 2,318 shares in the last quarter. Spirit of America Management Corp NY increased its position in shares of MGM Resorts International by 78.1% during the 4th quarter. Spirit of America Management Corp NY now owns 5,700 shares of the company’s stock worth $190,000 after purchasing an additional 2,500 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth about $197,000. Finally, NuWave Investment Management LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter worth about $197,000. Institutional investors and hedge funds own 82.53% of the company’s stock.

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About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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