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.

Analysts Set New Price Targets

Several analysts have recently commented on MGM shares. Bank of America decreased their price objective on MGM Resorts International from $55.00 to $50.00 and set a "neutral" rating for the company in a report on Monday, April 18th. Wells Fargo & Company upped their target price on MGM Resorts International from $49.00 to $58.00 and gave the company an "overweight" rating in a research report on Thursday. StockNews.com downgraded MGM Resorts International from a "buy" rating to a "hold" rating in a research report on Friday, July 15th. JMP Securities assumed coverage on MGM Resorts International in a research report on Tuesday, June 28th. They issued an "outperform" rating and a $55.00 target price on the stock. Finally, Credit Suisse Group cut their target price on MGM Resorts International from $76.00 to $72.00 and set an "outperform" rating on the stock in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, MGM Resorts International has an average rating of "Moderate Buy" and an average price target of $53.18.

MGM Resorts International Price Performance

Shares of NYSE:MGM traded down $0.74 during trading on Friday, reaching $34.71. 4,510,913 shares of the company's stock traded hands, compared to its average volume of 4,325,059. The firm has a market cap of $13.64 billion, a PE ratio of 4.86 and a beta of 2.14. MGM Resorts International has a fifty-two week low of $26.41 and a fifty-two week high of $51.17. The company has a 50-day simple moving average of $31.05 and a 200-day simple moving average of $37.44. The company has a quick ratio of 1.23, a current ratio of 1.65 and a debt-to-equity ratio of 0.99.

MGM Resorts International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders 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 yield of 0.03%. The ex-dividend date is Thursday, September 8th. MGM Resorts International's dividend payout ratio (DPR) is 0.14%.

Insiders Place Their Bets

In other news, COO Corey Ian Sanders sold 10,000 shares of the firm'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 owns 280,273 shares in the company, valued at approximately $10,089,828. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Paul J. Salem bought 34,500 shares of the company'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 acquisition, the director now owns 1,555,000 shares of the company's stock, valued at $44,970,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Corey Ian Sanders sold 10,000 shares of MGM Resorts International stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $36.00, for a total transaction of $360,000.00. Following the sale, the chief operating officer now directly owns 280,273 shares of the company's stock, valued at $10,089,828. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company's stock.