MGM Resorts International (NYSE:MGM) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• MGM Resorts International has received a consensus recommendation of "Moderate Buy" from 23 research firms, with an average 1-year target price of $48.61.
• Recent insider transactions include John Mcmanus selling 60,000 shares for over $2.16 million, reflecting a significant decrease in his holdings.
• The company's stock performance shows a market capitalization of $9.46 billion and a recent quarterly earnings report that exceeded expectations with earnings per share of $0.79.

MGM Resorts International (NYSE:MGM - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty-three research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $48.6111.

MGM has been the subject of a number of research analyst reports. The Goldman Sachs Group initiated coverage on shares of MGM Resorts International in a report on Monday, July 7th. They issued a "sell" rating and a $34.00 price target for the company. Truist Financial upped their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Morgan Stanley upped their price target 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, September 11th. UBS Group cut their price target on shares of MGM Resorts International from $44.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, September 11th. Finally, Citizens Jmp downgraded shares of MGM Resorts International from an "outperform" rating to a "market perform" rating in a report on Thursday, June 26th.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, insider John Mcmanus sold 60,000 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $36.12, for a total value of $2,167,200.00. Following the completion of the sale, the insider directly owned 31,521 shares of the company's stock, valued at approximately $1,138,538.52. This represents a 65.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith A. Meister sold 242,000 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the sale, the director directly owned 5,385,478 shares of the company's stock, valued at $190,753,630.76. This represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.06% of the stock is currently owned by corporate insiders.

Institutional Trading of MGM Resorts International

A number of hedge funds have recently bought and sold shares of MGM. CYBER HORNET ETFs LLC purchased a new stake in MGM Resorts International during the second quarter valued at about $25,000. Golden State Wealth Management LLC lifted its stake in MGM Resorts International by 83.5% during the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company's stock valued at $30,000 after buying an additional 455 shares in the last quarter. CX Institutional purchased a new stake in MGM Resorts International during the first quarter valued at about $36,000. Bayforest Capital Ltd purchased a new stake in MGM Resorts International during the first quarter valued at about $43,000. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in MGM Resorts International by 66.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company's stock valued at $45,000 after buying an additional 529 shares in the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Stock Performance

MGM stock opened at $34.76 on Friday. The company has a market capitalization of $9.46 billion, a P/E ratio of 19.10, a PEG ratio of 1.48 and a beta of 1.67. The company has a 50-day simple moving average of $36.35 and a 200 day simple moving average of $33.99. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $42.53. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 1.67.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.21. The business had revenue of $4.40 billion during 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%. The company's quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 earnings per share. Sell-side analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal 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.

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