MGM Resorts International (NYSE:MGM) Given Consensus Rating of “Moderate Buy” by Brokerages

MGM Resorts International (NYSE:MGM) has earned a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $51.29.

Several research firms have commented on MGM. Jefferies Financial Group lowered their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Barclays reaffirmed an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Macquarie reiterated an “outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Capital One Financial raised their price target on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th.

Insider Buying and Selling

In other news, CAO Todd Meinert sold 6,000 shares of the business’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 transaction, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the acquisition, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. 2.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MGM Resorts International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp grew its position in shares of MGM Resorts International by 13.8% during the third quarter. Stifel Financial Corp now owns 169,829 shares of the company’s stock worth $6,639,000 after buying an additional 20,542 shares in the last quarter. National Bank of Canada FI increased its position in shares of MGM Resorts International by 67.1% in the 3rd quarter. National Bank of Canada FI now owns 120,664 shares of the company’s stock worth $4,717,000 after purchasing an additional 48,443 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of MGM Resorts International in the 3rd quarter valued at about $641,000. Sanctuary Advisors LLC grew its stake in MGM Resorts International by 60.3% in the third quarter. Sanctuary Advisors LLC now owns 51,687 shares of the company’s stock worth $1,954,000 after purchasing an additional 19,444 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in MGM Resorts International in the third quarter valued at about $55,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Stock Down 4.0 %

Shares of NYSE:MGM opened at $28.74 on Friday. The company has a market capitalization of $8.13 billion, a P/E ratio of 11.97, a P/E/G ratio of 0.98 and a beta of 1.96. The stock’s fifty day simple moving average is $32.75 and its 200-day simple moving average is $35.30. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $47.26. 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 quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 research analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

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.