MGM Resorts International (NYSE:MGM) Receives Consensus Rating of “Hold” from Brokerages

MGM Resorts International (NYSE:MGM) has been assigned an average rating of “Hold” from the twenty-one ratings firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $52.0176.

A number of research firms recently commented on MGM. JPMorgan Chase & Co. lifted their price target on shares of MGM Resorts International from $46.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Jefferies Financial Group reissued a “hold” rating on shares of MGM Resorts International in a research report on Thursday, July 2nd. KeyCorp upgraded MGM Resorts International from a “sector weight” rating to an “overweight” rating and set a $117.00 target price on the stock in a research note on Monday, April 27th. Truist Financial raised MGM Resorts International from a “hold” rating to a “buy” rating and upped their price target for the company from $42.00 to $55.00 in a research report on Wednesday, May 27th. Finally, Weiss Ratings upgraded MGM Resorts International from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 15th.

Insider Buying and Selling

In other MGM Resorts International news, Director Daniel J. Taylor sold 6,675 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $38.44, for a total transaction of $256,587.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 3.38% of the stock is currently owned by company insiders.

Institutional Trading of MGM Resorts International

Several hedge funds and other institutional investors have recently modified their holdings of MGM. CYBER HORNET ETFs LLC purchased a new position in MGM Resorts International in the 2nd quarter valued at approximately $25,000. Global Retirement Partners LLC lifted its position in shares of MGM Resorts International by 55.9% during the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 281 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of MGM Resorts International in the first quarter worth $30,000. Optiver Holding B.V. bought a new position in shares of MGM Resorts International in the first quarter worth $35,000. Finally, Elyxium Wealth LLC bought a new position in shares of MGM Resorts International in the fourth quarter worth $42,000. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Down 0.3%

NYSE MGM opened at $46.45 on Friday. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 64.51 and a beta of 1.29. MGM Resorts International has a one year low of $29.18 and a one year high of $51.59. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.33 and a quick ratio of 1.30. The business’s fifty day moving average is $43.76 and its 200-day moving average is $38.91.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The company had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts predict that MGM Resorts International will post 1.95 EPS for the current year.

About MGM Resorts International

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.