MGM Resorts International's (MGM) "Sell (D+)" Rating Reiterated at Weiss Ratings

Key Points

• MGM Resorts International's stock has been reiterated with a "Sell (D+)" rating by Weiss Ratings, while a consensus price target from analysts is set at $48.50.
• Shares have recently traded down by 2.4% and the stock has a 52-week range of $25.30 to $42.53.
• Insider trading activity includes the sale of 60,000 shares by insider John Mcmanus, indicating a significant reduction in his holdings, while 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International (NYSE:MGM - Get Free Report)'s stock had its "sell (d+)" rating reissued by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also issued reports on the company. UBS Group dropped their target price on MGM Resorts International from $44.00 to $39.00 and set a "neutral" rating on the stock in a research report on Thursday, September 11th. JPMorgan Chase & Co. assumed coverage on MGM Resorts International in a research report on Monday, June 23rd. They issued a "neutral" rating and a $38.00 target price on the stock. JMP Securities reissued a "market perform" rating on shares of MGM Resorts International in a research report on Thursday, June 26th. Mizuho dropped their target price on MGM Resorts International from $58.00 to $56.00 and set an "outperform" rating on the stock in a research report on Monday, September 22nd. Finally, Truist Financial raised their price target on MGM Resorts International from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, MGM Resorts International presently has an average rating of "Moderate Buy" and a consensus price target of $48.50.

MGM Resorts International Stock Down 2.4%

Shares of MGM Resorts International stock opened at $32.33 on Wednesday. The business's 50 day simple moving average is $35.97 and its 200 day simple moving average is $34.02. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $42.53. The firm has a market cap of $8.80 billion, a PE ratio of 17.76, a P/E/G ratio of 1.41 and a beta of 1.67. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.18 and a current ratio of 1.22.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.21. MGM Resorts International had a return on equity of 19.39% and a net margin of 3.13%.The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same quarter last year, the firm earned $0.86 EPS. MGM Resorts International's revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts predict that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In related news, insider John Mcmanus sold 60,000 shares of the business's stock in a transaction on Monday, September 15th. The stock was 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 in the company, valued at $1,138,538.52. The trade was a 65.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Keith A. Meister sold 242,000 shares of the business's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $35.42, for a total value of $8,571,640.00. Following the completion of the sale, the director owned 5,385,478 shares of the company's stock, valued at $190,753,630.76. This trade represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.06% of the company's stock.

Hedge Funds Weigh In On MGM Resorts International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGM. CYBER HORNET ETFs LLC acquired a new position in MGM Resorts International in the 2nd quarter valued at $25,000. Golden State Wealth Management LLC raised its holdings in shares of MGM Resorts International by 83.5% during the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company's stock worth $30,000 after buying an additional 455 shares in the last quarter. CX Institutional acquired a new position in shares of MGM Resorts International during the 1st quarter worth $36,000. Bayforest Capital Ltd acquired a new position in shares of MGM Resorts International during the 1st quarter worth $43,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of MGM Resorts International by 66.9% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company's stock worth $45,000 after buying an additional 529 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

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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