MGM Resorts International (NYSE:MGM) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analysts rate MGM a "Hold" on average — 20 analysts cover the stock (4 sell, 7 hold, 8 buy, 1 strong buy) with a 12‑month consensus target of $41.94.
• Quarterly results beat expectations: MGM reported $1.60 EPS vs. $0.64 expected and $4.61B revenue vs. $4.42B expected, and analysts forecast about $2.21 EPS for the year.
• Notable insider activity: Director Keith Meister sold 37,500 shares at $34.27 while major shareholder Iac Inc. bought 550,000 shares at $37.30, leaving insiders with 3.06% ownership.

Shares of MGM Resorts International (NYSE:MGM - Get Free Report) have received an average recommendation of "Hold" from the twenty analysts that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $41.9375.

A number of equities research analysts have recently commented on MGM shares. Susquehanna dropped their target price on MGM Resorts International from $46.00 to $45.00 and set a "positive" rating on the stock in a research report on Friday, February 6th. Morgan Stanley reaffirmed an "underweight" rating and issued a $34.00 price target on shares of MGM Resorts International in a report on Wednesday, February 11th. Truist Financial raised their price objective on MGM Resorts International from $38.00 to $39.00 and gave the company a "hold" rating in a report on Friday, February 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on MGM Resorts International from $43.00 to $44.00 and gave the company a "buy" rating in a research report on Thursday, February 12th. Finally, Citigroup upped their target price on MGM Resorts International from $35.00 to $41.00 and gave the stock a "neutral" rating in a research note on Friday, February 6th.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 37,500 shares of the company's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the completion of the transaction, the director directly owned 5,347,978 shares in the company, valued at approximately $183,275,206.06. This represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Iac Inc. acquired 550,000 shares of the firm's stock in a transaction on Monday, March 23rd. The shares were bought at an average cost of $37.30 per share, for a total transaction of $20,515,000.00. Following the completion of the acquisition, the insider owned 66,372,350 shares of the company's stock, valued at approximately $2,475,688,655. This represents a 0.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 3.06% of the company's stock.

Institutional Investors Weigh In On MGM Resorts International

Institutional investors have recently bought and sold shares of the company. CYBER HORNET ETFs LLC acquired a new position in shares of MGM Resorts International during the 2nd quarter worth approximately $25,000. Mendota Financial Group LLC purchased a new position in MGM Resorts International during the third quarter worth approximately $27,000. Global Retirement Partners LLC boosted its stake in 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 buying an additional 281 shares during the last quarter. Mather Group LLC. acquired a new position in MGM Resorts International during the third quarter worth $33,000. Finally, Elyxium Wealth LLC purchased a new stake in MGM Resorts International in the 4th quarter valued at $42,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Stock Performance

Shares of NYSE MGM opened at $37.58 on Friday. The company has a market capitalization of $9.61 billion, a PE ratio of 50.11 and a beta of 1.38. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.20 and a current ratio of 1.23. The company's fifty day moving average price is $35.63 and its 200 day moving average price is $34.81. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $40.16.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.96. The company had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.42 billion. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, research analysts predict that MGM Resorts International will post 2.21 earnings per share for the current year.

MGM Resorts International Company Profile

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.

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