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.

Analyst Upgrades and Downgrades

MGM has been the topic of a number of recent research reports. StockNews.com lowered shares of MGM Resorts International from a "buy" rating to a "hold" rating in a research note on Friday, July 15th. Morgan Stanley decreased their price objective on MGM Resorts International from $56.00 to $51.00 and set an "equal weight" rating for the company in a report on Monday, April 25th. Citigroup upped their price target on MGM Resorts International to $58.00 in a research note on Tuesday. UBS Group cut their price objective on MGM Resorts International to $40.00 in a research report on Thursday, June 9th. Finally, JMP Securities assumed coverage on MGM Resorts International in a report on Tuesday, June 28th. They issued an "outperform" rating and a $55.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, MGM Resorts International presently has an average rating of "Moderate Buy" and an average price target of $53.31.

MGM Resorts International Trading Up 2.0 %

MGM Resorts International stock traded up $0.69 during mid-day trading on Friday, hitting $35.60. 3,447,399 shares of the company's stock were exchanged, compared to its average volume of 4,453,706. The company's 50 day simple moving average is $31.04 and its 200-day simple moving average is $37.23. MGM Resorts International has a fifty-two week low of $26.41 and a fifty-two week high of $51.17. The firm has a market capitalization of $13.99 billion, a P/E ratio of 4.99 and a beta of 2.14. The company has a quick ratio of 1.63, a current ratio of 1.65 and a debt-to-equity ratio of 0.99.

MGM Resorts International Announces Dividend

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

Insider Buying and Selling at MGM Resorts International

In related news, COO Corey Ian Sanders sold 10,000 shares of the business's stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $36.00, for a total value of $360,000.00. Following the sale, the chief operating officer now owns 280,273 shares of the company's stock, valued at $10,089,828. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Paul J. Salem acquired 34,500 shares of the firm's stock in a transaction 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 purchase, the director now owns 1,555,000 shares in the company, valued at approximately $44,970,600. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Corey Ian Sanders sold 10,000 shares of the 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 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. Company insiders own 2.13% of the company's stock.