MGM Resorts International (NYSE:MGM) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Consensus "Hold": Twenty analysts give MGM an average rating of "Hold" (4 sell, 7 hold, 8 buy, 1 strong buy) with an average 1-year price target of about $42.13.
• Insider activity: Major shareholder IAC bought 550,000 shares at $37.30 (~$20.5M), raising its stake, while director Keith Meister sold 37,500 shares; insiders now own 3.38% of the company.
• Recent results beat estimates: MGM reported Q results of $1.60 EPS vs. $0.64 expected and $4.61B revenue vs. $4.42B expected, with a market cap of $10.07B and a P/E of 52.49.

MGM Resorts International (NYSE:MGM - Get Free Report) has earned an average recommendation of "Hold" from the twenty analysts that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $42.1333.

Several research analysts have recently weighed in on MGM shares. Zacks Research raised shares of MGM Resorts International from a "strong sell" rating to a "hold" rating in a research report on Monday, December 22nd. Texas Capital raised shares of MGM Resorts International to a "strong-buy" rating in a research report on Thursday, January 8th. Truist Financial lifted their target price on shares of MGM Resorts International from $38.00 to $39.00 and gave the stock a "hold" rating in a research report on Friday, February 6th. Stifel Nicolaus dropped their target price on shares of MGM Resorts International from $50.00 to $48.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Finally, Capital One Financial lifted their target price on shares of MGM Resorts International from $46.00 to $51.00 and gave the stock an "overweight" rating in a research report on Friday.

Insider Buying and Selling

In related news, major shareholder Iac Inc. acquired 550,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were purchased at an average cost of $37.30 per share, with a total value of $20,515,000.00. Following the completion of the transaction, the insider owned 66,372,350 shares of the company's stock, valued at approximately $2,475,688,655. This trade represents a 0.84% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Keith A. Meister sold 37,500 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 5,347,978 shares in the company, valued at $183,275,206.06. The trade was a 0.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.38% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC purchased a new position in MGM Resorts International during the second quarter valued at approximately $25,000. Mendota Financial Group LLC purchased a new position in MGM Resorts International during the third quarter valued at approximately $27,000. Global Retirement Partners LLC grew its position in MGM Resorts International by 55.9% during the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company's stock valued at $29,000 after purchasing an additional 281 shares in the last quarter. Mather Group LLC. purchased a new position in MGM Resorts International during the third quarter valued at approximately $33,000. Finally, Elyxium Wealth LLC purchased a new position in MGM Resorts International during the fourth quarter valued at approximately $42,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $39.37 on Tuesday. The firm's 50 day simple moving average is $36.52 and its 200-day simple moving average is $35.05. The company has a market cap of $10.07 billion, a P/E ratio of 52.49 and a beta of 1.35. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 1.20. MGM Resorts International has a fifty-two week low of $28.51 and a fifty-two week high of $40.20.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.96. The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate 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 period last year, the firm posted $0.45 earnings per share. As a group, equities research analysts predict that MGM Resorts International will post 1.98 EPS for the current year.

About MGM Resorts International

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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