Brokerages Set MGM Resorts International (NYSE:MGM) PT at $52.58

MGM Resorts International (NYSE:MGM – Get Rating) has received a consensus recommendation of “Hold” from the nineteen brokerages that are covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $52.58.

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut their price target on MGM Resorts International from $52.00 to $48.00 in a report on Friday, May 20th. Truist Financial reduced their target price on MGM Resorts International from $51.00 to $48.00 and set a “hold” rating for the company in a report on Tuesday, April 19th. Bank of America lowered their price target on shares of MGM Resorts International from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, April 18th. Wells Fargo & Company reduced their price objective on shares of MGM Resorts International from $57.00 to $49.00 and set an “overweight” rating for the company in a research note on Thursday, July 14th. Finally, JMP Securities started coverage on shares of MGM Resorts International in a research note on Tuesday, June 28th. They issued an “outperform” rating and a $55.00 target price on the stock.

Insider Buying and Selling

In other MGM Resorts International news, Director Paul J. Salem purchased 34,500 shares of MGM Resorts International stock in a transaction on Monday, June 13th. The shares were acquired at an average cost of $28.92 per share, for a total transaction of $997,740.00. Following the completion of the transaction, the director now directly owns 1,555,000 shares of the company’s stock, valued at $44,970,600. The purchase was disclosed in a filing with the SEC, which is available at this link. In other MGM Resorts International news, Director Paul J. Salem purchased 34,500 shares of the business’s stock in a transaction on Monday, June 13th. The stock was acquired at an average cost of $28.92 per share, for a total transaction of $997,740.00. Following the completion of the transaction, the director now directly owns 1,555,000 shares in the company, valued at approximately $44,970,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul J. Salem acquired 3,500 shares of MGM Resorts International stock in a transaction dated Wednesday, May 25th. The shares were bought at an average cost of $31.25 per share, for a total transaction of $109,375.00. Following the completion of the purchase, the director now directly owns 1,520,500 shares of the company’s stock, valued at approximately $47,515,625. The disclosure for this purchase can be found here. 2.13% of the stock is currently owned by corporate insiders.

Institutional Trading of MGM Resorts International

Institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH raised its holdings in MGM Resorts International by 71.2% during the 4th quarter. Allianz Asset Management GmbH now owns 4,272,794 shares of the company’s stock valued at $191,762,000 after buying an additional 1,777,519 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of MGM Resorts International by 148.1% during the fourth quarter. Marshall Wace LLP now owns 2,930,320 shares of the company’s stock worth $131,513,000 after purchasing an additional 1,749,408 shares during the period. Samlyn Capital LLC bought a new stake in shares of MGM Resorts International in the fourth quarter worth about $65,783,000. Candlestick Capital Management LP increased its holdings in MGM Resorts International by 116.7% during the 4th quarter. Candlestick Capital Management LP now owns 1,625,171 shares of the company’s stock valued at $72,938,000 after purchasing an additional 875,171 shares during the period. Finally, Millennium Management LLC raised its position in MGM Resorts International by 1,475.0% during the 4th quarter. Millennium Management LLC now owns 881,375 shares of the company’s stock valued at $39,556,000 after purchasing an additional 825,416 shares during the last quarter. Hedge funds and other institutional investors own 85.76% of the company’s stock.

MGM Resorts International Trading Up 1.0 %

Shares of MGM opened at $29.51 on Friday. MGM Resorts International has a fifty-two week low of $26.41 and a fifty-two week high of $51.17. The business has a 50-day moving average of $31.72 and a 200 day moving average of $38.68. The firm has a market cap of $12.57 billion, a P/E ratio of 9.58 and a beta of 2.17. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.23 and a current ratio of 1.25.

MGM Resorts International (NYSE:MGM – Get Rating) last posted its earnings results on Monday, May 2nd. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.10. The firm had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.75 billion. MGM Resorts International had a net margin of 14.40% and a return on equity of 0.81%. During the same quarter last year, the company earned ($0.68) earnings per share. As a group, research analysts forecast that MGM Resorts International will post 0.94 EPS for the current year.

MGM Resorts International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Friday, June 10th were given a dividend of $0.0025 per share. The ex-dividend date was Thursday, June 9th. This represents a $0.01 annualized dividend and a dividend yield of 0.03%. MGM Resorts International’s dividend payout ratio (DPR) is presently 0.32%.

MGM Resorts International Company Profile

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MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. 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.

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