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

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

A number of other equities research analysts have also recently issued reports on MGM. Susquehanna raised shares of MGM Resorts International from a neutral rating to a positive rating and boosted their target price for the company from $46.00 to $54.00 in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on MGM Resorts International from $54.00 to $57.00 and gave the company an overweight rating in a research note on Thursday. Morgan Stanley increased their price objective on MGM Resorts International from $45.00 to $46.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. Barclays lifted their target price on MGM Resorts International from $55.00 to $56.00 and gave the company an overweight rating in a report on Thursday. Finally, Bank Of America (Bofa) increased their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a neutral rating in a report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $54.77.

MGM Resorts International Stock Performance

MGM traded up $0.17 during trading hours on Thursday, hitting $41.04. The stock had a trading volume of 4,379,185 shares, compared to its average volume of 3,597,847. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $51.35. The company’s fifty day simple moving average is $43.52 and its 200 day simple moving average is $42.24. The stock has a market cap of $12.87 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.67 and a beta of 2.22. The company has a quick ratio of 1.53, a current ratio of 1.51 and a debt-to-equity ratio of 1.56.

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

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the 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 transaction, the director now owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.13% of the stock is currently owned by insiders.

Institutional Trading of MGM Resorts International

Several hedge funds and other institutional investors have recently bought and sold shares of MGM. CVA Family Office LLC bought a new stake in shares of MGM Resorts International in the 4th quarter worth approximately $28,000. Sandy Spring Bank raised its position in MGM Resorts International by 140.8% in 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. Sunbelt Securities Inc. boosted its position in MGM Resorts International by 510.2% during the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock valued at $44,000 after buying an additional 1,000 shares during the period. Accent Capital Management LLC purchased a new stake in MGM Resorts International during the fourth quarter valued at about $45,000. Finally, Mendota Financial Group LLC increased its holdings in shares of MGM Resorts International by 36.0% in the first 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. Hedge funds and other 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.