A number of other research analysts have also weighed in on MGM. Susquehanna Bancshares upgraded shares of MGM Resorts International from a negative rating to a neutral rating and lifted their price objective for the company from $36.00 to $45.00 in a research note on Friday, March 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of MGM Resorts International from $52.00 to $48.00 in a research note on Friday, May 20th. Citigroup began coverage on shares of MGM Resorts International in a research note on Thursday, February 10th. They issued a buy rating and a $57.00 price objective for the company. Truist Financial reduced their price objective on shares of MGM Resorts International from $51.00 to $48.00 and set a hold rating for the company in a research note on Tuesday, April 19th. Finally, JPMorgan Chase & Co. began coverage on shares of MGM Resorts International in a research report on Tuesday, May 3rd. They set an overweight rating and a $53.00 price target for the company. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $53.79.
Shares of MGM stock opened at $34.89 on Friday. The company has a 50 day moving average of $39.22 and a 200-day moving average of $41.77. The company has a quick ratio of 1.23, a current ratio of 1.25 and a debt-to-equity ratio of 1.06. MGM Resorts International has a 12-month low of $30.70 and a 12-month high of $51.17. The firm has a market cap of $14.86 billion, a P/E ratio of 11.33 and a beta of 2.18.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Friday, June 10th will be issued a dividend of $0.0025 per share. This represents a $0.01 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, June 9th. MGM Resorts International’s dividend payout ratio is currently 0.32%.
In other MGM Resorts International news, CEO William Hornbuckle sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 20th. The shares were sold at an average price of $43.00, for a total value of $430,000.00. Following the completion of the sale, the chief executive officer now directly owns 132,603 shares of the company’s stock, valued at $5,701,929. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul J. Salem purchased 3,500 shares of the stock in a transaction on Wednesday, May 25th. The stock was acquired at an average cost of $31.25 per share, with a total value 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 $47,515,625. The disclosure for this purchase can be found here. Insiders own 2.13% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Chilton Capital Management LLC purchased a new position in shares of MGM Resorts International in the fourth quarter valued at about $25,000. UMB Bank N A MO purchased a new position in shares of MGM Resorts International in the fourth quarter valued at about $29,000. Capital Advisory Group Advisory Services LLC purchased a new position in shares of MGM Resorts International in the first quarter valued at about $29,000. First Horizon Advisors Inc. increased its position in shares of MGM Resorts International by 715.4% in the first quarter. First Horizon Advisors Inc. now owns 742 shares of the company’s stock valued at $31,000 after acquiring an additional 651 shares during the period. Finally, GPS Wealth Strategies Group LLC increased its position in shares of MGM Resorts International by 280.0% in the first quarter. GPS Wealth Strategies Group LLC now owns 760 shares of the company’s stock valued at $32,000 after acquiring an additional 560 shares during the period. Hedge funds and other institutional investors own 85.76% of the company’s stock.
About MGM Resorts International (Get Rating)
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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