MGM Resorts International (NYSE:MGM) Receives $48.83 Consensus PT from Brokerages

MGM Resorts International (NYSE:MGM - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twenty-four analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $48.6667.

MGM has been the topic of a number of recent analyst reports. Citigroup raised shares of MGM Resorts International from a "hold" rating to a "strong-buy" rating and raised their target price for the company from $55.00 to $57.00 in a research note on Wednesday, July 9th. Citizens Jmp cut shares of MGM Resorts International from an "outperform" rating to a "market perform" rating in a report on Thursday, June 26th. Barclays boosted their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Morgan Stanley boosted their target price on shares of MGM Resorts International from $41.00 to $43.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, UBS Group dropped their target price on shares of MGM Resorts International from $44.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 60,000 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $32.09, for a total transaction of $1,925,400.00. Following the sale, the director owned 5,627,478 shares in the company, valued at approximately $180,585,769.02. The trade was a 1.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.06% of the company's stock.

Hedge Funds Weigh In On MGM Resorts International

Large investors have recently modified their holdings of the stock. Vontobel Holding Ltd. raised its position in shares of MGM Resorts International by 74.6% in the 1st quarter. Vontobel Holding Ltd. now owns 21,778 shares of the company's stock worth $646,000 after purchasing an additional 9,304 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in MGM Resorts International by 60.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 61,748 shares of the company's stock worth $1,830,000 after buying an additional 23,234 shares during the last quarter. Achmea Investment Management B.V. raised its position in MGM Resorts International by 46.3% in the 1st quarter. Achmea Investment Management B.V. now owns 35,227 shares of the company's stock worth $1,045,000 after buying an additional 11,152 shares during the last quarter. Osborne Partners Capital Management LLC raised its position in MGM Resorts International by 4.1% in the 1st quarter. Osborne Partners Capital Management LLC now owns 326,197 shares of the company's stock worth $9,668,000 after buying an additional 12,833 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in MGM Resorts International by 3.7% in the 1st quarter. D.A. Davidson & CO. now owns 303,470 shares of the company's stock worth $8,995,000 after buying an additional 10,690 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

MGM Resorts International Price Performance

Shares of MGM Resorts International stock traded down $0.42 on Monday, reaching $35.53. The stock had a trading volume of 3,720,146 shares, compared to its average volume of 5,219,914. The business's 50 day moving average is $37.16 and its two-hundred day moving average is $33.74. The company has a market cap of $9.67 billion, a P/E ratio of 19.50, a price-to-earnings-growth ratio of 1.52 and a beta of 1.69. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 1.67. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $42.53.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.21. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.28 billion. MGM Resorts International had a net margin of 3.13% and a return on equity of 19.39%. MGM Resorts International's quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.86 earnings per share. As a group, research analysts anticipate that MGM Resorts International will post 2.21 EPS for the current year.

About MGM Resorts International

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.