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

MGM Resorts International (NYSE:MGM - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the fourteen analysts that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $52.54.

Several research firms have recently commented on MGM. Morgan Stanley raised their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of MGM Resorts International from $57.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, October 1st. JMP Securities reduced 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. Mizuho reduced their price target on MGM Resorts International from $57.00 to $56.00 and set an "outperform" rating on the stock in a research note on Thursday, October 31st. Finally, Wells Fargo & Company lowered their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an "overweight" rating for the company in a report on Thursday, October 17th.

MGM Resorts International Stock Performance

NYSE:MGM traded up $0.30 during midday trading on Wednesday, hitting $34.65. The company's stock had a trading volume of 2,922,489 shares, compared to its average volume of 4,062,843. The firm has a market cap of $10.32 billion, a P/E ratio of 12.38, a P/E/G ratio of 3.10 and a beta of 2.20. The firm's 50 day moving average is $36.90 and its 200-day moving average is $38.87. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a fifty-two week low of $33.28 and a fifty-two week high of $48.24.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). The company had revenue of $4.18 billion during the quarter, compared to analysts' expectations of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.64 earnings per share. Equities analysts anticipate that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares of the company's stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.13% of the stock is currently owned by corporate insiders.

Institutional Trading of MGM Resorts International

A number of hedge funds and other institutional investors have recently modified their holdings of MGM. Fisher Asset Management LLC grew its position in MGM Resorts International by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company's stock worth $177,777,000 after purchasing an additional 90,645 shares during the period. Goldentree Asset Management LP lifted its position in shares of MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company's stock valued at $117,270,000 after acquiring an additional 1,390,599 shares in the last quarter. HG Vora Capital Management LLC purchased a new position in shares of MGM Resorts International in the third quarter worth $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of MGM Resorts International by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company's stock valued at $89,832,000 after purchasing an additional 123,124 shares during the last quarter. Finally, FMR LLC increased its position in MGM Resorts International by 5.0% in the third quarter. FMR LLC now owns 1,681,699 shares of the company's stock worth $65,738,000 after purchasing an additional 79,486 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

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.