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.

MGM Resorts International Stock Up 2.0 %

MGM Stock opened at $35.60 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.65 and a quick ratio of 1.63. MGM Resorts International has a 12 month low of $26.41 and a 12 month high of $51.17. The firm has a market capitalization of $13.99 billion, a PE ratio of 4.99 and a beta of 2.14. The company's 50 day simple moving average is $31.04 and its 200-day simple moving average is $37.18.

MGM Resorts International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, September 9th will be given a dividend of $0.0025 per share. This represents a $0.01 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, September 8th. MGM Resorts International's payout ratio is 0.14%.

Analysts Set New Price Targets

MGM has been the subject of several recent analyst reports. Wells Fargo & Company raised their price target on MGM Resorts International from $49.00 to $58.00 and gave the stock an "overweight" rating in a report on Thursday, August 4th. Bank of America dropped their price objective on shares of MGM Resorts International from $55.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, April 18th. Truist Financial raised their target price on MGM Resorts International from $35.00 to $40.00 in a research note on Thursday, August 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on MGM Resorts International from $48.00 to $51.00 in a report on Thursday, August 4th. Finally, JPMorgan Chase & Co. began coverage on shares of MGM Resorts International in a research report on Tuesday, May 3rd. They issued an "overweight" rating and a $53.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, MGM Resorts International has an average rating of "Moderate Buy" and an average price target of $53.31.

Insider Buying and Selling at MGM Resorts International

In other news, COO Corey Ian Sanders sold 10,000 shares of the company's stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $36.00, for a total transaction of $360,000.00. Following the completion of the transaction, the chief operating officer now owns 280,273 shares of the company's stock, valued at approximately $10,089,828. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other MGM Resorts International news, COO Corey Ian Sanders sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $36.00, for a total transaction of $360,000.00. Following the completion of the sale, the chief operating officer now directly owns 280,273 shares in the company, valued at $10,089,828. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Daniel J. Taylor sold 4,499 shares of the firm's stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $34.41, for a total value of $154,810.59. The disclosure for this sale can be found here. 2.13% of the stock is owned by insiders.