Brokerages Set MGM Resorts International (MGM) PT at $38.62

Shares of MGM Resorts International (NYSE:MGM) have received an average recommendation of “Buy” from the eighteen brokerages that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $38.62.

Several analysts recently commented on MGM shares. JPMorgan Chase reissued an “overweight” rating and set a $44.00 target price (up from $41.00) on shares of MGM Resorts International in a research note on Tuesday, January 9th. Zacks Investment Research lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Morgan Stanley increased their target price on shares of MGM Resorts International from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, March 27th. Jefferies Group started coverage on shares of MGM Resorts International in a research note on Thursday, January 18th. They set a “buy” rating and a $43.00 target price for the company. Finally, Bank of America increased their target price on shares of MGM Resorts International from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st.

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In other MGM Resorts International news, Director Alexis Herman sold 4,350 shares of the company’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $36.63, for a total value of $159,340.50. Following the transaction, the director now owns 3,935 shares in the company, valued at approximately $144,139.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel J. Taylor sold 12,536 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $34.67, for a total transaction of $434,623.12. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 46,000 shares of company stock valued at $49,000 and sold 142,646 shares valued at $5,104,710. 0.43% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in MGM. BlackRock Inc. increased its stake in MGM Resorts International by 19.9% in the 4th quarter. BlackRock Inc. now owns 35,609,163 shares of the company’s stock valued at $1,188,991,000 after buying an additional 5,897,782 shares during the period. Maverick Capital Ltd. increased its stake in shares of MGM Resorts International by 26.4% during the 4th quarter. Maverick Capital Ltd. now owns 8,867,800 shares of the company’s stock worth $296,096,000 after purchasing an additional 1,852,880 shares during the last quarter. Millennium Management LLC increased its stake in shares of MGM Resorts International by 248.2% during the 4th quarter. Millennium Management LLC now owns 2,458,545 shares of the company’s stock worth $82,091,000 after purchasing an additional 1,752,560 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of MGM Resorts International during the 4th quarter worth $53,202,000. Finally, Carillon Tower Advisers Inc. acquired a new position in shares of MGM Resorts International during the 4th quarter worth $37,539,000. Hedge funds and other institutional investors own 82.53% of the company’s stock.

MGM stock traded up $0.47 on Wednesday, hitting $34.87. 371,740 shares of the company’s stock traded hands, compared to its average volume of 8,232,811. MGM Resorts International has a 1-year low of $27.01 and a 1-year high of $38.41. The firm has a market cap of $19,483.04, a PE ratio of 34.21, a P/E/G ratio of 1.63 and a beta of 1.40. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.77 and a quick ratio of 0.73.

MGM Resorts International (NYSE:MGM) last released its earnings results on Tuesday, February 20th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. MGM Resorts International had a net margin of 17.92% and a return on equity of 5.78%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the prior year, the business earned $0.11 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. sell-side analysts expect that MGM Resorts International will post 1.4 earnings per share for the current year.

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About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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