MGM Resorts International (NYSE:MGM) Receives $51.47 Consensus PT from Brokerages

MGM Resorts International (NYSE:MGM) has been assigned an average recommendation of “Moderate Buy” from the twenty-one analysts that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $51.29.

Several research analysts recently commented on the stock. Argus raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Susquehanna Bancshares raised their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Leerink Partners downgraded shares of MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Finally, Mizuho raised their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th.

MGM Resorts International Stock Down 1.1 %

MGM Resorts International stock opened at $35.13 on Thursday. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. The firm has a 50 day moving average price of $34.59 and a 200-day moving average price of $36.78. The company has a market capitalization of $10.03 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.98 and a beta of 2.20. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, equities analysts predict that MGM Resorts International will post 2.21 EPS for the current year.

Insider Activity

In other news, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.83% of the company’s stock.

Institutional Trading of MGM Resorts International

Institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning raised its position in MGM Resorts International by 8.4% in the 3rd quarter. Creative Planning now owns 77,682 shares of the company’s stock worth $3,037,000 after purchasing an additional 6,040 shares during the period. Blue Trust Inc. raised its position in MGM Resorts International by 120.6% in the 3rd quarter. Blue Trust Inc. now owns 1,348 shares of the company’s stock worth $53,000 after purchasing an additional 737 shares during the period. Raymond James & Associates raised its position in MGM Resorts International by 22.6% in the 3rd quarter. Raymond James & Associates now owns 468,269 shares of the company’s stock worth $18,305,000 after purchasing an additional 86,370 shares during the period. Raleigh Capital Management Inc. raised its position in MGM Resorts International by 105.7% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,911 shares of the company’s stock worth $75,000 after purchasing an additional 982 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in MGM Resorts International by 749.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 50,424 shares of the company’s stock worth $1,971,000 after purchasing an additional 44,489 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. 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.