MGM Resorts International’s (MGM) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities restated their market outperform rating on shares of MGM Resorts International (NYSE:MGM) in a research note published on Thursday,Benzinga reports. They currently have a $50.00 price target on the stock.

Other equities analysts have also issued reports about the stock. Mizuho dropped their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Truist Financial cut their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Wells Fargo & Company decreased their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Morgan Stanley lifted their price target on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Barclays decreased their price objective on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and an average price target of $51.93.

MGM Resorts International Trading Down 0.8 %

Shares of NYSE:MGM opened at $32.85 on Thursday. MGM Resorts International has a 52-week low of $31.61 and a 52-week high of $48.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The company has a market capitalization of $9.78 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 3.04 and a beta of 2.21. The company has a 50-day simple moving average of $35.57 and a 200 day simple moving average of $38.11.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Sell-side analysts forecast that MGM Resorts International will post 2.43 earnings per share for the current year.

Insider Activity

In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.83% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

A number of large investors have recently modified their holdings of the business. Global Trust Asset Management LLC bought a new stake in shares of MGM Resorts International during the 4th quarter worth $28,000. MCF Advisors LLC lifted its holdings in shares of MGM Resorts International by 20.4% in the fourth quarter. MCF Advisors LLC now owns 22,075 shares of the company’s stock worth $765,000 after acquiring an additional 3,744 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of MGM Resorts International by 5.4% in the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock valued at $227,000 after purchasing an additional 333 shares in the last quarter. Ameritas Advisory Services LLC grew its holdings in shares of MGM Resorts International by 6.3% during the 4th quarter. Ameritas Advisory Services LLC now owns 26,715 shares of the company’s stock valued at $926,000 after purchasing an additional 1,585 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in MGM Resorts International during the 4th quarter worth approximately $243,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Company Profile

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