Shares of MGM Resorts International (NYSE:MGM) have been given an average rating of “Buy” by the twenty analysts that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $37.00.

MGM has been the topic of a number of research analyst reports. Morgan Stanley set a $34.00 target price on shares of MGM Resorts International and gave the stock a “buy” rating in a research note on Friday, October 13th. Deutsche Bank downgraded shares of MGM Resorts International from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a research note on Monday, September 11th. Nomura dropped their target price on shares of MGM Resorts International from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, November 1st. Roth Capital initiated coverage on shares of MGM Resorts International in a research note on Wednesday, October 25th. They issued a “buy” rating and a $38.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of MGM Resorts International from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th.

In other news, insider Robert Baldwin sold 61,600 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $32.56, for a total transaction of $2,005,696.00. Following the transaction, the insider now directly owns 70,049 shares in the company, valued at $2,280,795.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William A. Bible sold 6,128 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $33.23, for a total transaction of $203,633.44. Following the transaction, the director now owns 27,081 shares in the company, valued at $899,901.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,877 shares of company stock worth $3,187,002. Insiders own 12.20% of the company’s stock.

A number of large investors have recently bought and sold shares of MGM. Janney Montgomery Scott LLC lifted its position in MGM Resorts International by 21.4% during the second quarter. Janney Montgomery Scott LLC now owns 25,410 shares of the company’s stock valued at $795,000 after acquiring an additional 4,483 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in MGM Resorts International by 8.0% during the second quarter. Daiwa Securities Group Inc. now owns 13,550 shares of the company’s stock valued at $424,000 after acquiring an additional 1,000 shares during the last quarter. World Asset Management Inc lifted its position in MGM Resorts International by 0.5% during the second quarter. World Asset Management Inc now owns 19,646 shares of the company’s stock valued at $615,000 after acquiring an additional 91 shares during the last quarter. Sei Investments Co. lifted its position in MGM Resorts International by 343.5% during the second quarter. Sei Investments Co. now owns 248,538 shares of the company’s stock valued at $7,777,000 after acquiring an additional 192,496 shares during the last quarter. Finally, IFP Advisors Inc lifted its position in MGM Resorts International by 58.8% during the second quarter. IFP Advisors Inc now owns 7,240 shares of the company’s stock valued at $227,000 after acquiring an additional 2,682 shares during the last quarter. 83.01% of the stock is owned by institutional investors.

Shares of MGM Resorts International (MGM) traded down $0.63 during mid-day trading on Thursday, reaching $32.71. 7,857,623 shares of the company’s stock were exchanged, compared to its average volume of 8,650,222. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.02 and a quick ratio of 0.98. The company has a market cap of $18,784.46, a P/E ratio of 29.36, a P/E/G ratio of 7.54 and a beta of 1.44. MGM Resorts International has a twelve month low of $25.15 and a twelve month high of $34.65.

MGM Resorts International declared that its board has initiated a share buyback plan on Tuesday, September 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 11th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.35%. MGM Resorts International’s dividend payout ratio is presently 43.14%.

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About MGM Resorts International

MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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