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

MGM Resorts International (NYSE:MGM)‘s stock had its “market outperform” rating reiterated by analysts at JMP Securities in a report released on Thursday,Benzinga reports. They presently have a $50.00 price objective on the stock. JMP Securities’ price objective suggests a potential upside of 51.70% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Barclays decreased their price target on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft cut their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Jefferies Financial Group lowered their price target on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Mizuho cut their price objective on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, Truist Financial lowered their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, MGM Resorts International has an average rating of “Moderate Buy” and an average target price of $51.93.

MGM Resorts International Stock Down 0.1 %

Shares of MGM stock traded down $0.04 during trading hours on Thursday, hitting $32.96. 322,004 shares of the company were exchanged, compared to its average volume of 4,546,781. The company has a market capitalization of $9.81 billion, a PE ratio of 11.77, a PEG ratio of 3.04 and a beta of 2.21. 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 moving average of $35.74 and a two-hundred day moving average of $38.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63.

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

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the 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 completion of the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MGM Resorts International

Several large investors have recently modified their holdings of MGM. Quent Capital LLC increased its holdings in MGM Resorts International by 14.6% in the third quarter. Quent Capital LLC now owns 2,383 shares of the company’s stock valued at $93,000 after purchasing an additional 304 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of MGM Resorts International by 0.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after purchasing an additional 309 shares during the period. Lazari Capital Management Inc. boosted its position in shares of MGM Resorts International by 6.3% during the 2nd quarter. Lazari Capital Management Inc. now owns 5,633 shares of the company’s stock valued at $250,000 after purchasing an additional 333 shares in the last quarter. ProShare Advisors LLC grew its stake in MGM Resorts International by 0.8% during the second quarter. ProShare Advisors LLC now owns 57,876 shares of the company’s stock worth $2,572,000 after purchasing an additional 431 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in MGM Resorts International by 1.6% in the third quarter. Daiwa Securities Group Inc. now owns 28,466 shares of the company’s stock worth $1,113,000 after purchasing an additional 459 shares in the last quarter. Institutional investors 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.