Analysts Set MGM Resorts International (NYSE:MGM) PT at $41.94

MGM Resorts International (NYSE:MGM) has been given an average recommendation of “Hold” by the twenty brokerages that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $41.9375.

Several equities analysts have issued reports on the stock. Barclays set a $37.00 price target on shares of MGM Resorts International in a research report on Friday, February 6th. Weiss Ratings reissued a “sell (d)” rating on shares of MGM Resorts International in a research note on Monday, December 29th. Susquehanna decreased their price objective on MGM Resorts International from $46.00 to $45.00 and set a “positive” rating for the company in a report on Friday, February 6th. Wells Fargo & Company raised their target price on MGM Resorts International from $29.00 to $31.00 and gave the stock an “underweight” rating in a research report on Friday, January 16th. Finally, Citigroup lifted their target price on MGM Resorts International from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, February 6th.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $36.94 on Friday. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of 49.26 and a beta of 1.38. The company has a current ratio of 1.23, a quick ratio of 1.20 and a debt-to-equity ratio of 1.91. The business’s 50-day moving average price is $35.73 and its 200-day moving average price is $34.82. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $40.16.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, February 4th. The company reported $1.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.96. MGM Resorts International had a return on equity of 26.04% and a net margin of 1.17%.The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Equities research analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 37,500 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $34.27, for a total value of $1,285,125.00. Following the sale, the director directly owned 5,347,978 shares in the company, valued at $183,275,206.06. This represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Iac Inc. bought 550,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were purchased at an average cost of $37.30 per share, with a total value of $20,515,000.00. Following the transaction, the insider directly owned 66,372,350 shares in the company, valued at approximately $2,475,688,655. This trade represents a 0.84% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On MGM Resorts International

A number of institutional investors have recently modified their holdings of MGM. CYBER HORNET ETFs LLC bought a new position in MGM Resorts International during the second quarter worth $25,000. Mendota Financial Group LLC bought a new stake in MGM Resorts International during the third quarter valued at $27,000. Global Retirement Partners LLC grew its holdings in MGM Resorts International by 55.9% during the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after acquiring an additional 281 shares during the period. Mather Group LLC. acquired a new stake in MGM Resorts International during the 3rd quarter worth about $33,000. Finally, Elyxium Wealth LLC bought a new position in shares of MGM Resorts International in the 4th quarter worth about $42,000. 68.11% of the stock is owned by institutional investors.

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.