MGM Resorts International (NYSE:MGM) Given Average Recommendation of “Hold” by Analysts

Shares of MGM Resorts International (NYSE:MGMGet Free Report) have been assigned an average rating of “Hold” from the twenty-three brokerages that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $43.8529.

A number of analysts recently issued reports on MGM shares. Zacks Research raised shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Mizuho set a $62.00 price objective on shares of MGM Resorts International in a research report on Thursday, October 30th. UBS Group cut their target price on shares of MGM Resorts International from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Monday, November 17th. Wells Fargo & Company upped their price target on shares of MGM Resorts International from $29.00 to $31.00 and gave the stock an “underweight” rating in a research report on Friday, January 16th. Finally, Argus cut their price objective on MGM Resorts International from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, November 14th.

View Our Latest Report on MGM

MGM Resorts International News Summary

Here are the key news stories impacting MGM Resorts International this week:

Insider Activity at MGM Resorts International

In related news, major shareholder Iac Inc. purchased 1,098,748 shares of MGM Resorts International stock in a transaction that occurred on Friday, December 5th. The shares were purchased at an average cost of $36.30 per share, with a total value of $39,884,552.40. Following the transaction, the insider owned 65,822,350 shares of the company’s stock, valued at approximately $2,389,351,305. The trade was a 1.70% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.06% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of hedge funds have recently made changes to their positions in the company. Corient Private Wealth LLC increased its stake in MGM Resorts International by 356.6% during the second quarter. Corient Private Wealth LLC now owns 528,526 shares of the company’s stock valued at $18,176,000 after purchasing an additional 412,767 shares during the last quarter. American Assets Inc. lifted its position in shares of MGM Resorts International by 66.7% in the 2nd quarter. American Assets Inc. now owns 30,000 shares of the company’s stock worth $950,000 after buying an additional 12,000 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of MGM Resorts International in the 2nd quarter valued at about $6,351,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of MGM Resorts International by 109.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 129,115 shares of the company’s stock valued at $4,276,000 after buying an additional 67,542 shares during the period. Finally, Permanent Capital Management LP acquired a new stake in MGM Resorts International during the third quarter worth about $738,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Up 8.1%

Shares of MGM opened at $36.93 on Thursday. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $41.32. The firm has a market capitalization of $10.10 billion, a P/E ratio of 230.81 and a beta of 1.44. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 1.80. The stock’s fifty day simple moving average is $35.55 and its 200 day simple moving average is $35.02.

MGM Resorts International (NYSE:MGMGet Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.11 EPS for the quarter, topping the consensus estimate of $0.63 by $0.48. The company had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.42 billion. MGM Resorts International had a return on equity of 17.23% and a net margin of 0.40%. On average, equities research analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current year.

MGM Resorts International Company Profile

(Get Free Report)

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.

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Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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