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 1.7 %

Shares of MGM Resorts International stock traded up $0.61 during trading on Thursday, hitting $35.62. 2,969,742 shares of the stock were exchanged, compared to its average volume of 5,454,972. The stock has a market cap of $14.00 billion, a price-to-earnings ratio of 4.99 and a beta of 2.14. The firm's 50-day moving average price is $31.07 and its 200 day moving average price is $37.06. MGM Resorts International has a 12-month low of $26.41 and a 12-month high of $51.17. 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 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 dividend of $0.0025 per share. The ex-dividend date is Thursday, September 8th. This represents a $0.01 annualized dividend and a yield of 0.03%. MGM Resorts International's dividend payout ratio is currently 0.14%.

Wall Street Analyst Weigh In

MGM has been the subject of a number of recent analyst reports. Truist Financial raised their price target on shares of MGM Resorts International from $35.00 to $40.00 in a report on Thursday, August 4th. Morgan Stanley cut their price target on shares of 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. JPMorgan Chase & Co. initiated coverage on shares of MGM Resorts International in a report on Tuesday, May 3rd. They set an "overweight" rating and a $53.00 price target for the company. StockNews.com downgraded shares of MGM Resorts International from a "buy" rating to a "hold" rating in a report on Friday, July 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of MGM Resorts International from $48.00 to $51.00 in a report on Thursday, August 4th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, MGM Resorts International currently has an average rating of "Moderate Buy" and a consensus target price of $53.31.

Insider Buying and Selling

In related news, 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 sale, the chief operating officer now directly owns 280,273 shares in the company, valued at approximately $10,089,828. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Paul J. Salem purchased 34,500 shares of the business's stock in a transaction that occurred on Monday, June 13th. The shares were purchased at an average cost of $28.92 per share, for a total transaction of $997,740.00. Following the purchase, the director now directly owns 1,555,000 shares of the company's stock, valued at $44,970,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the chief operating officer now owns 280,273 shares in the company, valued at $10,089,828. The disclosure for this sale can be found here. Insiders have purchased 180,400 shares of company stock worth $6,105,355 in the last ninety days. 2.13% of the stock is owned by corporate insiders.