MGM Resorts International (NYSE:MGM) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of MGM Resorts International (NYSE:MGM) from a hold rating to a buy rating in a research report released on Thursday morning.

A number of other research firms have also issued reports on MGM. Deutsche Bank Aktiengesellschaft increased their target price on MGM Resorts International from $50.00 to $52.00 and gave the company a buy rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. lifted their target price on MGM Resorts International from $54.00 to $57.00 and gave the company an overweight rating in a research note on Thursday. JMP Securities reissued a market outperform rating and issued a $57.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. Mizuho upped their price objective on shares of MGM Resorts International from $61.00 to $62.00 and gave the company a buy rating in a research note on Thursday. Finally, TheStreet upgraded shares of MGM Resorts International from a c+ rating to a b- rating in a research report on Tuesday, February 13th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $54.83.

MGM Resorts International Price Performance

Shares of NYSE:MGM traded down $0.32 during trading hours on Thursday, hitting $40.72. 3,522,568 shares of the company’s stock traded hands, compared to its average volume of 3,915,263. The company has a market cap of $12.77 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 0.95 and a beta of 2.22. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35. The company’s fifty day simple moving average is $43.52 and its two-hundred day simple moving average is $42.32. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.51.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The firm had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the business posted $0.44 EPS. MGM Resorts International’s revenue was up 13.2% on a year-over-year basis. As a group, equities analysts anticipate that MGM Resorts International will post 2.76 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the transaction, the director now directly owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.83% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Texas Permanent School Fund Corp lifted its position in shares of MGM Resorts International by 0.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock worth $2,667,000 after acquiring an additional 245 shares during the period. Regatta Capital Group LLC lifted its holdings in shares of MGM Resorts International by 1.8% during the 4th quarter. Regatta Capital Group LLC now owns 13,753 shares of the company’s stock worth $614,000 after acquiring an additional 247 shares during the period. Mendota Financial Group LLC increased its stake in MGM Resorts International by 36.0% in the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after acquiring an additional 266 shares during the period. Lindbrook Capital LLC raised its position in MGM Resorts International by 8.2% in the first quarter. Lindbrook Capital LLC now owns 3,550 shares of the company’s stock worth $168,000 after purchasing an additional 268 shares in the last quarter. Finally, Sandy Spring Bank boosted its holdings in MGM Resorts International by 33.7% during the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock valued at $51,000 after purchasing an additional 288 shares in the last quarter. Institutional investors 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.