Shares of MGM Resorts International (NYSE:MGM) have been given an average recommendation of “Buy” by the nineteen analysts that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $38.62.
A number of equities analysts have recently commented on the company. ValuEngine raised MGM Resorts International from a “hold” rating to a “buy” rating in a research report on Wednesday. Bank of America boosted their price objective on MGM Resorts International from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Telsey Advisory Group assumed coverage on MGM Resorts International in a research report on Wednesday, March 14th. They set a “market perform” rating and a $39.00 price objective for the company. Zacks Investment Research downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Stifel Nicolaus reissued a “hold” rating and set a $37.00 price objective (up from $36.00) on shares of MGM Resorts International in a research report on Wednesday, February 21st.
In other news, Director William Warwick Grounds acquired 1,000 shares of MGM Resorts International stock in a transaction on Wednesday, March 14th. The stock was bought at an average price of $35.50 per share, for a total transaction of $35,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel J. Taylor sold 12,536 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $34.67, for a total value of $434,623.12. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 46,000 shares of company stock valued at $49,000 and sold 142,646 shares valued at $5,104,710. Corporate insiders own 0.43% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Asset Management One Co. Ltd. lifted its stake in MGM Resorts International by 5.1% in the third quarter. Asset Management One Co. Ltd. now owns 712,424 shares of the company’s stock valued at $23,209,000 after buying an additional 34,625 shares during the last quarter. American Assets Capital Advisers LLC lifted its stake in MGM Resorts International by 64.6% in the fourth quarter. American Assets Capital Advisers LLC now owns 570,704 shares of the company’s stock valued at $19,055,000 after buying an additional 224,000 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in MGM Resorts International by 4.7% in the fourth quarter. Teacher Retirement System of Texas now owns 406,481 shares of the company’s stock valued at $13,572,000 after buying an additional 18,261 shares during the last quarter. AXA lifted its stake in MGM Resorts International by 22.0% in the third quarter. AXA now owns 313,177 shares of the company’s stock valued at $10,206,000 after buying an additional 56,566 shares during the last quarter. Finally, Monashee Investment Management LLC purchased a new stake in MGM Resorts International in the fourth quarter valued at approximately $3,339,000. Institutional investors own 82.53% of the company’s stock.
Shares of MGM Resorts International stock traded up $0.30 on Wednesday, reaching $36.41. 6,582,143 shares of the company were exchanged, compared to its average volume of 8,274,477. MGM Resorts International has a 1-year low of $27.68 and a 1-year high of $38.41. The company has a market cap of $19,692.60, a PE ratio of 35.70, a P/E/G ratio of 1.63 and a beta of 1.40. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.73 and a current ratio of 0.77.
MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.04. MGM Resorts International had a return on equity of 5.78% and a net margin of 17.92%. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the company posted $0.11 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. sell-side analysts predict that MGM Resorts International will post 1.41 earnings per share for the current fiscal year.
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MGM Resorts International Company Profile
MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
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