MGM Resorts International (NYSE:MGM) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of MGM Resorts International (NYSE:MGM) in a research report report published on Thursday morning,Benzinga reports. The firm currently has a $50.00 target price on the stock.

A number of other brokerages also recently weighed in on MGM. Morgan Stanley raised their target price on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company raised their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday. Stifel Nicolaus boosted their target price on MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays raised their price target on shares of MGM Resorts International from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Truist Financial lowered 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. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.47.

MGM Resorts International Stock Down 1.4 %

MGM stock opened at $39.82 on Thursday. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24. The business has a 50-day simple moving average of $34.38 and a 200 day simple moving average of $36.77. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The company has a market cap of $11.85 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 2.94 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. Sell-side analysts anticipate that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGM. Davis Selected Advisers lifted its position in shares of MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock worth $690,253,000 after purchasing an additional 882,417 shares during the period. Invesco Ltd. lifted its holdings in MGM Resorts International by 22.5% in the fourth quarter. Invesco Ltd. now owns 5,785,343 shares of the company’s stock valued at $200,462,000 after buying an additional 1,063,707 shares during the period. Fisher Asset Management LLC boosted its position in MGM Resorts International by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after acquiring an additional 90,645 shares during the last quarter. Marshall Wace LLP grew its holdings in MGM Resorts International by 50.9% during the 4th quarter. Marshall Wace LLP now owns 3,233,718 shares of the company’s stock worth $112,048,000 after acquiring an additional 1,090,533 shares during the period. Finally, Goldentree Asset Management LP raised its position in shares of MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after acquiring an additional 1,390,599 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

About MGM Resorts International

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.