MGM Resorts International (NYSE:MGM) Receives New Coverage from Analysts at Citigroup

Investment analysts at Citigroup started coverage on shares of MGM Resorts International (NYSE:MGM) in a report released on Wednesday, July 24th, The Fly reports. The brokerage set a $23.00 price target on the stock. Citigroup‘s price objective would suggest a potential downside of 20.06% from the company’s current price.

Several other equities research analysts have also commented on the stock. Morgan Stanley lowered shares of MGM Resorts International from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $32.00 to $31.00 in a research note on Thursday, July 18th. ValuEngine lowered shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Susquehanna Bancshares started coverage on shares of MGM Resorts International in a research note on Wednesday, July 24th. They issued a “negative” rating and a $23.00 price target on the stock. Finally, Deutsche Bank restated a “hold” rating and issued a $32.00 price target on shares of MGM Resorts International in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $31.00.

NYSE MGM traded up $0.46 during trading hours on Wednesday, reaching $28.77. The company’s stock had a trading volume of 5,527,926 shares, compared to its average volume of 6,777,805. The company has a current ratio of 0.73, a quick ratio of 0.69 and a debt-to-equity ratio of 1.39. The business has a 50-day simple moving average of $29.01 and a 200 day simple moving average of $27.51. MGM Resorts International has a 52 week low of $21.61 and a 52 week high of $31.68. The stock has a market cap of $14.56 billion, a PE ratio of 29.06, a PEG ratio of 4.15 and a beta of 1.42.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Thursday, July 25th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). MGM Resorts International had a return on equity of 3.77% and a net margin of 1.56%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the prior year, the business earned $0.26 EPS. The business’s revenue was up 12.7% on a year-over-year basis. As a group, equities analysts predict that MGM Resorts International will post 0.84 EPS for the current year.

In other MGM Resorts International news, Director Keith A. Meister purchased 1,139,138 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were purchased at an average price of $25.82 per share, for a total transaction of $29,412,543.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith A. Meister purchased 209,136 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was acquired at an average price of $27.99 per share, for a total transaction of $5,853,716.64. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 5,317,360 shares of company stock worth $140,880,100. 3.47% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of MGM Resorts International by 3,000.0% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 930 shares of the company’s stock valued at $27,000 after buying an additional 900 shares during the period. First Personal Financial Services acquired a new stake in shares of MGM Resorts International during the 1st quarter valued at $26,000. Quadrant Capital Group LLC boosted its stake in shares of MGM Resorts International by 94.3% during the 1st quarter. Quadrant Capital Group LLC now owns 1,259 shares of the company’s stock valued at $29,000 after buying an additional 611 shares during the period. Rational Advisors LLC raised its holdings in shares of MGM Resorts International by 1,113.8% during the 1st quarter. Rational Advisors LLC now owns 1,323 shares of the company’s stock valued at $34,000 after purchasing an additional 1,214 shares in the last quarter. Finally, Thor Advisors LLC bought a new position in shares of MGM Resorts International during the 1st quarter valued at $35,000. 81.27% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates integrated 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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The Fly

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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