MGM Resorts International - MGM Stock Forecast, Price & News

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. 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. The company's casino operations include slots and table games, as well as online sports betting and iGaming through BetMGM. As of February 17, 2021, its portfolio consisted of 29 hotel and destination gaming offerings. The company also owns and operates Las Vegas Strip Resorts and Fallen Oak golf course. Its customers include premium gaming customers; leisure and wholesale travel customers; business travelers; and group customers, including conventions, trade associations, and small meetings. The company was formerly known as MGM MIRAGE and changed its name to MGM Resorts International in June 2010. MGM Resorts International was incorporated in 1986 and is based in Las Vegas, Nevada.

Wall Street Analysts Forecast Growth

MGM has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on MGM Resorts International in a research note on Tuesday, May 3rd. They issued an "overweight" rating and a $53.00 price target for the company. StockNews.com cut MGM Resorts International from a "buy" rating to a "hold" rating in a research note on Friday, July 15th. Truist Financial lifted their price objective on MGM Resorts International from $35.00 to $40.00 in a report on Thursday, August 4th. Credit Suisse Group cut their price objective on MGM Resorts International from $76.00 to $72.00 and set an "outperform" rating for the company in a report on Thursday, August 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on MGM Resorts International from $48.00 to $51.00 in a report on Thursday, August 4th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $53.31.

MGM Resorts International Price Performance

Shares of NYSE:MGM traded down $1.16 during mid-day trading on Wednesday, reaching $35.01. The company's stock had a trading volume of 5,403,695 shares, compared to its average volume of 5,470,632. The firm has a market capitalization of $13.76 billion, a PE ratio of 4.90 and a beta of 2.14. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.65 and a quick ratio of 1.63. The stock has a fifty day moving average of $31.05 and a two-hundred day moving average of $37.11. MGM Resorts International has a 52 week low of $26.41 and a 52 week high of $51.17.

MGM Resorts International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, September 9th will be paid a $0.0025 dividend. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, September 8th. MGM Resorts International's dividend payout ratio (DPR) is 0.14%.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, major shareholder Iac Inc. acquired 142,400 shares of the company's stock in a transaction dated Thursday, August 11th. The stock was purchased at an average price of $35.10 per share, with a total value of $4,998,240.00. Following the completion of the purchase, the insider now directly owns 63,676,302 shares in the company, valued at approximately $2,235,038,200.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Iac Inc. bought 142,400 shares of the firm's stock in a transaction that occurred on Thursday, August 11th. The shares were bought at an average cost of $35.10 per share, for a total transaction of $4,998,240.00. Following the completion of the transaction, the insider now owns 63,676,302 shares of the company's stock, valued at $2,235,038,200.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Paul J. Salem bought 34,500 shares of the firm's stock in a transaction that occurred on Monday, June 13th. The stock was purchased at an average price of $28.92 per share, for a total transaction of $997,740.00. Following the completion of the transaction, the director now directly owns 1,555,000 shares of the company's stock, valued at approximately $44,970,600. The disclosure for this purchase can be found here. Insiders acquired a total of 180,400 shares of company stock valued at $6,105,355 over the last 90 days. Company insiders own 2.13% of the company's stock.