MGM Resorts International (NYSE:MGM) Receives Consensus Rating of “Moderate Buy” from Analysts

Posted by on Sep 14th, 2023

MGM Resorts International (NYSE:MGM – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $58.86.

A number of brokerages have recently weighed in on MGM. Truist Financial upped their target price on MGM Resorts International from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. TheStreet lowered MGM Resorts International from a “b” rating to a “c+” rating in a research report on Wednesday, August 2nd. Morgan Stanley lowered their target price on MGM Resorts International from $46.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday. JMP Securities reissued a “market outperform” rating and issued a $60.00 price target on shares of MGM Resorts International in a research report on Tuesday, July 18th. Finally, Stifel Nicolaus increased their price target on MGM Resorts International from $56.00 to $59.00 in a research report on Thursday, August 3rd.

Get Our Latest Stock Report on MGM Resorts International

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, COO Corey Ian Sanders sold 25,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $45.21, for a total value of $1,130,250.00. Following the completion of the transaction, the chief operating officer now owns 136,632 shares in the company, valued at approximately $6,177,132.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John Mcmanus sold 10,000 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $46.59, for a total transaction of $465,900.00. Following the completion of the transaction, the insider now owns 32,283 shares in the company, valued at approximately $1,504,064.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Corey Ian Sanders sold 25,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $45.21, for a total value of $1,130,250.00. Following the transaction, the chief operating officer now owns 136,632 shares of the company’s stock, valued at approximately $6,177,132.72. The disclosure for this sale can be found here. Insiders sold 49,454 shares of company stock worth $2,249,894 in the last quarter. 2.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MGM. Norges Bank bought a new position in shares of MGM Resorts International during the 4th quarter worth $165,932,000. Fisher Asset Management LLC bought a new position in shares of MGM Resorts International during the 1st quarter worth $193,609,000. Bessemer Group Inc. grew its stake in shares of MGM Resorts International by 95,894.9% during the 1st quarter. Bessemer Group Inc. now owns 3,235,987 shares of the company’s stock worth $143,741,000 after acquiring an additional 3,232,616 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of MGM Resorts International by 17.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 21,276,150 shares of the company’s stock worth $713,390,000 after acquiring an additional 3,098,142 shares during the period. Finally, Wellington Management Group LLP bought a new position in shares of MGM Resorts International during the 1st quarter worth $132,835,000. Institutional investors own 66.46% of the company’s stock.

MGM Resorts International Price Performance

Shares of NYSE:MGM opened at $41.47 on Thursday. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 1.38. MGM Resorts International has a twelve month low of $29.20 and a twelve month high of $51.35. The stock’s 50 day moving average is $45.68 and its 200-day moving average is $43.79. The firm has a market capitalization of $14.55 billion, a price-to-earnings ratio of 40.26 and a beta of 2.10.

MGM Resorts International (NYSE:MGM – Get Free Report) last issued its earnings results on Wednesday, August 2nd. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. MGM Resorts International had a return on equity of 2.10% and a net margin of 2.53%. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period in the prior year, the firm earned $0.03 earnings per share. MGM Resorts International’s revenue for the quarter was up 20.7% on a year-over-year basis. Sell-side analysts forecast that MGM Resorts International will post 2.44 EPS for the current fiscal year.

MGM Resorts International Company Profile

(Get Free Report

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.

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Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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