MGM Resorts International (NYSE:MGM) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

MGM Resorts International (NYSE:MGM) has been assigned a consensus rating of “Moderate Buy” from the twenty-one analysts that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $51.29.

MGM has been the topic of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research note on Thursday, February 13th. Argus raised MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Friday, February 14th. Morgan Stanley raised their price objective on MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Wells Fargo & Company raised their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Macquarie reaffirmed an “outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a report on Thursday, February 13th.

MGM Resorts International Stock Down 3.4 %

Shares of MGM Resorts International stock opened at $31.42 on Monday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The company has a market capitalization of $8.97 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. The business has a 50-day moving average of $34.02 and a two-hundred day moving average of $36.07. MGM Resorts International has a 1 year low of $29.99 and a 1 year high of $48.25.

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

Insider Buying and Selling at MGM Resorts International

In other news, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was purchased at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the acquisition, the chief financial officer now owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. boosted its position in MGM Resorts International by 8.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,190 shares of the company’s stock valued at $111,000 after buying an additional 261 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in MGM Resorts International by 0.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after buying an additional 309 shares during the period. Ballentine Partners LLC boosted its position in MGM Resorts International by 5.4% during the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock valued at $227,000 after buying an additional 333 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of MGM Resorts International by 1.7% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock worth $684,000 after purchasing an additional 333 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in shares of MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares during the period. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Company Profile

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.