MGM Resorts International (NYSE:MGM) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of MGM Resorts International (NYSE:MGM - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the twenty-three ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $48.00.

Several analysts recently commented on MGM shares. 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 research report on Wednesday. Citigroup raised shares of MGM Resorts International from a "hold" rating to a "strong-buy" rating and boosted their price objective for the company from $55.00 to $57.00 in a research note on Wednesday, July 9th. Morgan Stanley reissued a "sell" rating on shares of MGM Resorts International in a research note on Friday, July 11th. Macquarie dropped their price objective on shares of MGM Resorts International from $50.00 to $48.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, The Goldman Sachs Group assumed coverage on shares of MGM Resorts International in a research note on Monday, July 7th. They issued a "sell" rating and a $34.00 price objective on the stock.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, COO Corey Ian Sanders sold 40,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $34.43, for a total value of $1,377,200.00. Following the transaction, the chief operating officer directly owned 281,530 shares in the company, valued at approximately $9,693,077.90. This represents a 12.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel J. Taylor sold 5,261 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $34.93, for a total transaction of $183,766.73. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 105,261 shares of company stock worth $3,486,367. Corporate insiders own 3.06% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Avantax Advisory Services Inc. boosted its holdings in MGM Resorts International by 11.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 10,114 shares of the company's stock worth $350,000 after purchasing an additional 1,071 shares during the period. Commonwealth Equity Services LLC boosted its holdings in shares of MGM Resorts International by 0.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 146,417 shares of the company's stock valued at $5,073,000 after acquiring an additional 469 shares during the period. Cibc World Markets Corp boosted its holdings in shares of MGM Resorts International by 13.2% during the fourth quarter. Cibc World Markets Corp now owns 35,770 shares of the company's stock valued at $1,239,000 after acquiring an additional 4,184 shares during the period. Royal London Asset Management Ltd. raised its stake in shares of MGM Resorts International by 19.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 114,666 shares of the company's stock valued at $3,973,000 after purchasing an additional 18,419 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of MGM Resorts International by 110.5% during the fourth quarter. Quantbot Technologies LP now owns 136,433 shares of the company's stock valued at $4,727,000 after purchasing an additional 71,627 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

MGM Resorts International Stock Down 0.9%

Shares of NYSE:MGM opened at $37.24 on Friday. The firm has a 50 day simple moving average of $34.29 and a 200-day simple moving average of $33.09. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $45.54. The company has a market capitalization of $10.13 billion, a PE ratio of 16.63, a P/E/G ratio of 2.40 and a beta of 1.76. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 1.79.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.50 by $0.19. MGM Resorts International had a net margin of 3.95% and a return on equity of 20.64%. The firm had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. MGM Resorts International's revenue for the quarter was down 2.4% on a year-over-year basis. On average, equities analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

MGM Resorts International declared that its board has initiated a share buyback plan on Wednesday, April 30th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 22.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its shares are 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.

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