MGM Resorts International (NYSE:MGM) Receives Average Rating of “Moderate Buy” from Brokerages

MGM Resorts International (NYSE:MGM) has received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $52.85.

MGM has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Barclays decreased their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. UBS Group upgraded MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Finally, JMP Securities lowered their price objective on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating on the stock in a research report on Monday, November 25th.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the sale, the director now directly owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This represents a 2.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MGM Resorts International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers increased its position in shares of MGM Resorts International by 78.5% during the 1st quarter. Cetera Investment Advisers now owns 64,323 shares of the company’s stock valued at $3,037,000 after purchasing an additional 28,288 shares during the last quarter. Keystone Wealth Services LLC purchased a new stake in shares of MGM Resorts International in the second quarter valued at $291,000. Mirador Capital Partners LP lifted its holdings in shares of MGM Resorts International by 1.7% in the 2nd quarter. Mirador Capital Partners LP now owns 75,203 shares of the company’s stock worth $3,342,000 after acquiring an additional 1,229 shares during the last quarter. Shikiar Asset Management Inc. boosted its stake in shares of MGM Resorts International by 15.4% during the 2nd quarter. Shikiar Asset Management Inc. now owns 219,025 shares of the company’s stock worth $9,733,000 after purchasing an additional 29,150 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in MGM Resorts International by 1.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock valued at $1,018,000 after purchasing an additional 278 shares during the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Stock Down 0.5 %

MGM opened at $36.65 on Friday. The firm’s 50 day simple moving average is $38.65 and its two-hundred day simple moving average is $39.48. The company has a market capitalization of $10.91 billion, a PE ratio of 13.09, a PEG ratio of 2.68 and a beta of 2.20. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the prior year, the business posted $0.64 earnings per share. MGM Resorts International’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities analysts forecast that MGM Resorts International will post 2.5 EPS for the current year.

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.