MGM Resorts International (NYSE:MGM) Stock Rating Upgraded by StockNews.com

MGM Resorts International (NYSE:MGM) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

MGM has been the topic of several other research reports. Macquarie reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of MGM Resorts International in a research note on Wednesday, February 14th. Barclays lifted their price target on shares of MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday. Susquehanna raised shares of MGM Resorts International from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $46.00 to $54.00 in a research note on Thursday. JPMorgan Chase & Co. raised their price objective on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $54.77.

MGM Resorts International Stock Performance

NYSE:MGM traded up $0.17 during trading hours on Thursday, reaching $41.04. The company had a trading volume of 4,379,185 shares, compared to its average volume of 3,597,847. The firm’s 50 day moving average price is $43.52 and its 200-day moving average price is $42.24. The firm has a market cap of $12.87 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.67 and a beta of 2.22. The company has a current ratio of 1.51, a quick ratio of 1.53 and a debt-to-equity ratio of 1.56. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18. The business had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. On average, analysts forecast that MGM Resorts International will post 2.48 EPS for the current year.

Insider Activity

In related news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 6,098,778 shares in the company, valued at $261,637,576.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Several hedge funds and other institutional investors have recently modified their holdings of MGM. CVA Family Office LLC purchased a new stake in MGM Resorts International in the 4th quarter valued at about $28,000. Sandy Spring Bank increased its holdings in MGM Resorts International by 140.8% during the 3rd quarter. Sandy Spring Bank now owns 855 shares of the company’s stock worth $31,000 after purchasing an additional 500 shares during the period. Accent Capital Management LLC bought a new stake in MGM Resorts International during the 4th quarter valued at $45,000. Mendota Financial Group LLC lifted its holdings in shares of MGM Resorts International by 36.0% in the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after buying an additional 266 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of MGM Resorts International by 49.7% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock valued at $49,000 after buying an additional 367 shares during the period. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

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.