Key Points
- Insider sale: MGM Resorts Director Daniel Taylor sold 6,675 shares on May 22 at an average price of $38.44, totaling about $256,587.
- Recent earnings missed estimates: MGM reported quarterly EPS of $0.49, below the $0.56 consensus, though revenue of $4.45 billion slightly topped expectations and rose 4.2% year over year.
- Analyst sentiment is mixed: The stock has a consensus rating of Hold with an average target price of $47.12, reflecting a blend of recent target increases and cuts from major firms.
MGM Resorts International (NYSE:MGM - Get Free Report) Director Daniel Taylor sold 6,675 shares of the business's stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $38.44, for a total value of $256,587.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
MGM Resorts International Stock Up 0.1%
MGM opened at $38.45 on Wednesday. MGM Resorts International has a one year low of $29.18 and a one year high of $40.94. The company has a market cap of $9.84 billion, a price-to-earnings ratio of 53.40 and a beta of 1.28. The business's fifty day moving average is $37.63 and its two-hundred day moving average is $36.05. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.30 and a current ratio of 1.33.
MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). MGM Resorts International had a return on equity of 24.43% and a net margin of 1.03%.The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period last year, the firm earned $0.69 earnings per share. The business's revenue was up 4.2% compared to the same quarter last year. Analysts anticipate that MGM Resorts International will post 1.99 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
MGM has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price target on MGM Resorts International from $30.00 to $33.00 and gave the stock an "underweight" rating in a report on Thursday, April 30th. Truist Financial boosted their price target on MGM Resorts International from $39.00 to $42.00 and gave the stock a "hold" rating in a report on Thursday, April 30th. JPMorgan Chase & Co. cut their price target on MGM Resorts International from $42.00 to $41.00 and set a "neutral" rating for the company in a report on Thursday, April 30th. Capital One Financial boosted their price target on MGM Resorts International from $46.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, April 17th. Finally, Susquehanna cut their price target on MGM Resorts International from $46.00 to $45.00 and set a "positive" rating for the company in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, MGM Resorts International presently has an average rating of "Hold" and a consensus target price of $47.12.
Check Out Our Latest Stock Report on MGM Resorts International
Hedge Funds Weigh In On MGM Resorts International
Institutional investors have recently added to or reduced their stakes in the business. CYBER HORNET ETFs LLC acquired a new position in MGM Resorts International in the second quarter valued at $25,000. Global Retirement Partners LLC increased its stake in MGM Resorts International by 55.9% in the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company's stock valued at $29,000 after purchasing an additional 281 shares during the last quarter. International Assets Investment Management LLC acquired a new position in MGM Resorts International in the first quarter valued at $30,000. Elyxium Wealth LLC acquired a new position in MGM Resorts International in the fourth quarter valued at $42,000. Finally, City Holding Co. acquired a new position in MGM Resorts International in the fourth quarter valued at $44,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.
MGM Resorts International Company Profile
(
Get Free Report)
MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.
The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.
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