MGM Resorts International (NYSE:MGM) Given Consensus Recommendation of "Moderate Buy" by Analysts

MGM Resorts International (NYSE:MGM - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twenty analysts that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $48.94.

A number of analysts recently weighed in on MGM shares. JMP Securities decreased their price objective on MGM Resorts International from $50.00 to $45.00 and set a "market outperform" rating for the company in a report on Thursday, April 17th. Canaccord Genuity Group reissued a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Leerink Partners lowered MGM Resorts International to a "market perform" rating in a research note on Thursday, February 13th. Susquehanna increased their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a "positive" rating in a research report on Thursday, May 1st. Finally, Citigroup lifted their target price on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th.

Insider Buying and Selling at MGM Resorts International

In other news, CAO Todd Meinert sold 6,000 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares of the company's stock, valued at $692,509.84. This represents a 24.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $32.17 per share, with a total value of $321,700.00. Following the acquisition, the chief financial officer now owns 75,648 shares in the company, valued at $2,433,596.16. The trade was a 15.23 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.06% of the company's stock.

Institutional Investors Weigh In On MGM Resorts International

Hedge funds and other institutional investors have recently bought and sold shares of the business. Davis Selected Advisers raised its stake in shares of MGM Resorts International by 4.6% during the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock valued at $690,253,000 after purchasing an additional 882,417 shares during the period. Invesco Ltd. boosted its position in shares of MGM Resorts International by 22.5% in the fourth quarter. Invesco Ltd. now owns 5,785,343 shares of the company's stock valued at $200,462,000 after acquiring an additional 1,063,707 shares during the period. Marshall Wace LLP grew its stake in MGM Resorts International by 50.9% during the fourth quarter. Marshall Wace LLP now owns 3,233,718 shares of the company's stock valued at $112,048,000 after acquiring an additional 1,090,533 shares in the last quarter. Norges Bank bought a new stake in MGM Resorts International during the 4th quarter worth approximately $88,033,000. Finally, Southeastern Asset Management Inc. TN lifted its stake in MGM Resorts International by 9.6% in the 4th quarter. Southeastern Asset Management Inc. TN now owns 2,409,147 shares of the company's stock worth $83,477,000 after purchasing an additional 211,245 shares in the last quarter. Institutional investors own 68.11% of the company's stock.

MGM Resorts International Trading Up 0.3 %

Shares of MGM stock opened at $32.07 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $8.73 billion, a P/E ratio of 13.36, a P/E/G ratio of 0.98 and a beta of 1.78. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $47.26. The stock's fifty day simple moving average is $30.75 and its 200 day simple moving average is $34.18.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.50 by $0.19. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. The business had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same period last year, the company earned $0.74 EPS. The firm's revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

MGM Resorts International announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 30th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 22.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.