MGM Resorts International (NYSE:MGM) Receives Average Rating of "Moderate Buy" from Analysts

Shares of MGM Resorts International (NYSE:MGM - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the seventeen analysts that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $51.47.

Several research analysts recently weighed in on MGM shares. Capital One Financial raised their target price on MGM Resorts International from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Barclays raised their target price on MGM Resorts International from $45.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Stifel Nicolaus increased their price target on MGM Resorts International from $47.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. JMP Securities reiterated a "market outperform" rating and issued a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Susquehanna Bancshares increased their price target on MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 51,000 shares of the firm's stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction 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. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now directly owns 18,301 shares of the company's stock, valued at $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company's stock.

Institutional Investors Weigh In On MGM Resorts International

A number of hedge funds and other institutional investors have recently made changes to their positions in MGM. MidAtlantic Capital Management Inc. purchased a new stake in shares of MGM Resorts International during the 3rd quarter worth about $28,000. Global Trust Asset Management LLC purchased a new stake in shares of MGM Resorts International during the 4th quarter worth about $28,000. Assetmark Inc. raised its stake in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after purchasing an additional 411 shares in the last quarter. True Wealth Design LLC purchased a new stake in shares of MGM Resorts International during the 4th quarter worth about $33,000. Finally, Eastern Bank bought a new position in shares of MGM Resorts International in the 3rd quarter valued at approximately $35,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Price Performance

MGM stock traded down $2.24 during trading hours on Thursday, hitting $36.06. 2,394,909 shares of the stock traded hands, compared to its average volume of 5,093,717. The stock has a 50-day simple moving average of $34.54 and a 200 day simple moving average of $36.79. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24. The company has a market cap of $10.30 billion, a P/E ratio of 15.02, a P/E/G ratio of 0.98 and a beta of 2.20. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share 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%. Equities analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current 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.