MGM Resorts International (NYSE:MGM) Receives $53.57 Consensus Target Price from Analysts

MGM Resorts International (NYSE:MGM - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the fifteen analysts that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $53.57.

Several equities research analysts recently weighed in on MGM shares. Barclays reduced their price objective on shares of MGM Resorts International from $56.00 to $54.00 and set an "overweight" rating for the company in a report on Thursday. Wells Fargo & Company decreased their price objective 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. Macquarie dropped their target price on MGM Resorts International from $58.00 to $55.00 and set an "outperform" rating on the stock in a report on Friday, August 2nd. Susquehanna increased their price target on MGM Resorts International from $54.00 to $55.00 and gave the company a "positive" rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus boosted their price objective on MGM Resorts International from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st.

Insiders Place Their Bets

In other news, Director Paul J. Salem bought 147,500 shares of the firm's stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the acquisition, the director now directly owns 1,702,500 shares in the company, valued at $57,544,500. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other MGM Resorts International news, Director Paul J. Salem acquired 147,500 shares of MGM Resorts International stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $33.80 per share, with a total value of $4,985,500.00. Following the purchase, the director now owns 1,702,500 shares in the company, valued at approximately $57,544,500. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the company's stock in a transaction on Monday, August 5th. The stock was bought at an average price of $34.00 per share, for a total transaction of $340,000.00. Following the purchase, the chief financial officer now owns 38,299 shares in the company, valued at approximately $1,302,166. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 216,400 shares of company stock worth $7,312,197. Company insiders own 2.13% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MGM. Centaurus Financial Inc. bought a new position in shares of MGM Resorts International during the 4th quarter valued at $111,000. PNC Financial Services Group Inc. raised its holdings in MGM Resorts International by 4.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 43,341 shares of the company's stock valued at $1,936,000 after buying an additional 1,815 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of MGM Resorts International in the fourth quarter worth about $235,000. CWM LLC boosted its stake in shares of MGM Resorts International by 52.3% during the 1st quarter. CWM LLC now owns 9,999 shares of the company's stock worth $472,000 after acquiring an additional 3,432 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of MGM Resorts International by 18.0% during the 1st quarter. GAMMA Investing LLC now owns 6,352 shares of the company's stock valued at $300,000 after acquiring an additional 969 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

MGM Resorts International Stock Performance

Shares of MGM traded up $0.61 during mid-day trading on Friday, reaching $41.19. 3,437,808 shares of the company's stock traded hands, compared to its average volume of 4,080,205. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. The business's 50-day moving average price is $38.11 and its 200-day moving average price is $40.59. The stock has a market capitalization of $12.92 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 0.92 and a beta of 2.23. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.20. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the business earned $0.59 EPS. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts predict that MGM Resorts International will post 2.55 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.