MGM Resorts International (NYSE:MGM) Rating Increased to Buy at Argus

Argus upgraded shares of MGM Resorts International (NYSE:MGM) from a hold rating to a buy rating in a report released on Friday, Marketbeat Ratings reports. Argus currently has $50.00 price target on the stock.

Several other brokerages also recently weighed in on MGM. Capital One Financial raised their price target on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday. Macquarie reissued an “outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a report on Thursday. Mizuho raised their price target on MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday. Truist Financial lowered their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Susquehanna Bancshares raised their price objective on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and a consensus target price of $51.47.

MGM Resorts International Price Performance

Shares of MGM stock opened at $39.82 on Friday. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The stock’s 50-day moving average is $34.38 and its 200 day moving average is $36.81. The company has a market cap of $11.85 billion, a P/E ratio of 14.22, a PEG ratio of 2.94 and a beta of 2.20. 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 (NYSE:MGM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. Research analysts predict that MGM Resorts International will post 2.37 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 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. 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 can be accessed through this hyperlink. 2.13% of the stock is owned by company insiders.

Institutional Trading of MGM Resorts International

Several institutional investors have recently bought and sold shares of MGM. Norges Bank acquired a new stake in MGM Resorts International in the fourth quarter valued at approximately $88,033,000. HG Vora Capital Management LLC acquired a new stake in MGM Resorts International in the third quarter valued at approximately $97,725,000. Goldentree Asset Management LP grew its holdings in 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 purchasing an additional 1,390,599 shares during the period. AQR Capital Management LLC grew its holdings in MGM Resorts International by 12,726.8% in the fourth quarter. AQR Capital Management LLC now owns 1,278,965 shares of the company’s stock valued at $44,316,000 after purchasing an additional 1,268,994 shares during the period. Finally, Marshall Wace LLP grew its holdings in MGM Resorts International by 50.9% in the fourth quarter. Marshall Wace LLP now owns 3,233,718 shares of the company’s stock valued at $112,048,000 after purchasing an additional 1,090,533 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

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.