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 Price Performance

MGM Stock opened at $35.54 on Tuesday. MGM Resorts International has a 1 year low of $26.41 and a 1 year high of $51.17. The stock has a 50-day simple moving average of $31.04 and a 200-day simple moving average of $37.13. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.63 and a current ratio of 1.65. The firm has a market cap of $13.97 billion, a P/E ratio of 4.98 and a beta of 2.14.

MGM Resorts International Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MGM shares. JPMorgan Chase & Co. started coverage on MGM Resorts International in a research report on Tuesday, May 3rd. They set an "overweight" rating and a $53.00 target price on the stock. Bank of America cut their price objective on MGM Resorts International from $55.00 to $50.00 and set a "neutral" rating on the stock in a report on Monday, April 18th. UBS Group cut their price objective on MGM Resorts International to $40.00 in a report on Thursday, June 9th. Deutsche Bank Aktiengesellschaft raised their price objective on MGM Resorts International from $48.00 to $51.00 in a report on Thursday, August 4th. Finally, Citigroup raised their price objective on MGM Resorts International to $58.00 in a report on Tuesday, August 9th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $53.31.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Paul J. Salem acquired 3,500 shares of the stock in a transaction on Wednesday, May 25th. The stock was purchased at an average price of $31.25 per share, for a total transaction of $109,375.00. Following the purchase, the director now directly owns 1,520,500 shares in the company, valued at $47,515,625. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other MGM Resorts International news, Director Paul J. Salem acquired 3,500 shares of the stock in a transaction on Wednesday, May 25th. The stock was purchased at an average price of $31.25 per share, for a total transaction of $109,375.00. Following the purchase, the director now directly owns 1,520,500 shares in the company, valued at $47,515,625. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Iac Inc. bought 142,400 shares of the firm'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 transaction, the insider now owns 63,676,302 shares in the company, valued at approximately $2,235,038,200.20. The disclosure for this purchase can be found here. Insiders acquired a total of 180,400 shares of company stock worth $6,105,355 in the last 90 days. 2.13% of the stock is owned by corporate insiders.