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 Performance

Shares of MGM traded up $0.69 during mid-day trading on Friday, reaching $35.60. The company's stock had a trading volume of 3,441,828 shares, compared to its average volume of 5,492,089. The business has a 50-day simple moving average of $31.02 and a two-hundred day simple moving average of $37.27. The company has a current ratio of 1.65, a quick ratio of 1.63 and a debt-to-equity ratio of 0.99. The stock has a market cap of $13.99 billion, a P/E ratio of 4.89 and a beta of 2.14. MGM Resorts International has a 1-year low of $26.41 and a 1-year high of $51.17.

MGM Resorts International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Friday, September 9th will be paid a $0.0025 dividend. This represents a $0.01 annualized dividend 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 currently 0.14%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MGM. Deutsche Bank Aktiengesellschaft boosted their target price on MGM Resorts International from $48.00 to $51.00 in a report on Thursday, August 4th. Wells Fargo & Company upped their price objective on MGM Resorts International from $49.00 to $58.00 and gave the stock an "overweight" rating in a research report on Thursday, August 4th. UBS Group cut their target price on shares of MGM Resorts International to $40.00 in a report on Thursday, June 9th. Truist Financial raised their price target on MGM Resorts International from $35.00 to $40.00 in a report on Thursday, August 4th. Finally, Citigroup boosted their target price on shares of MGM Resorts International to $58.00 in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and eight have issued 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 $53.31.

Insiders Place Their Bets

In related news, Director Paul J. Salem purchased 34,500 shares of the company's stock in a transaction that occurred on Monday, June 13th. The stock was acquired at an average price of $28.92 per share, with a total value of $997,740.00. Following the completion of the purchase, the director now directly owns 1,555,000 shares in the company, valued at $44,970,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other MGM Resorts International news, Director Paul J. Salem purchased 34,500 shares of the business's stock in a transaction dated Monday, June 13th. The shares were bought at an average price of $28.92 per share, for a total transaction of $997,740.00. Following the completion of the acquisition, the director now owns 1,555,000 shares in the company, valued at $44,970,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Corey Ian Sanders sold 10,000 shares of MGM Resorts International stock in a transaction 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 of the company's stock, valued at approximately $10,089,828. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company's stock.