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

MGM Resorts International (NYSE:MGM)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a research report issued on Thursday,Benzinga reports. They presently have a $50.00 price objective on the stock. JMP Securities’ price target suggests a potential upside of 28.37% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. 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. Capital One Financial lifted their price target on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday. Wells Fargo & Company raised their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday. Truist Financial lowered their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Finally, Barclays lifted their price target on shares of MGM Resorts International from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.88.

MGM Resorts International Stock Up 13.3 %

MGM Resorts International stock traded up $4.58 during mid-day trading on Thursday, hitting $38.95. The company’s stock had a trading volume of 5,172,422 shares, compared to its average volume of 4,704,147. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a 52-week low of $31.61 and a 52-week high of $48.24. The firm’s 50 day moving average is $34.25 and its 200 day moving average is $36.81. The company has a market cap of $11.60 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 2.94 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping 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%. On average, analysts anticipate that MGM Resorts International will post 2.37 earnings per share for the current year.

Insider Activity

In other news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred on 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 approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MGM Resorts International

Several hedge funds have recently added to or reduced their stakes in the business. Empower Advisory Group LLC boosted its stake in MGM Resorts International by 4.2% in the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after purchasing an additional 62,997 shares during the period. Goldentree Asset Management LP boosted its position in shares of MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after acquiring an additional 1,390,599 shares during the period. Miracle Mile Advisors LLC acquired a new position in shares of MGM Resorts International in the fourth quarter valued at about $2,010,000. Assenagon Asset Management S.A. increased its position in MGM Resorts International by 80.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock worth $12,411,000 after acquiring an additional 159,522 shares during the period. Finally, Zacks Investment Management raised its stake in MGM Resorts International by 7.8% in the 3rd quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock worth $15,651,000 after purchasing an additional 29,107 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.