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

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

A number of other equities research analysts have also recently commented on the stock. Macquarie restated an outperform rating and set a $58.00 target price on shares of MGM Resorts International in a research note on Wednesday, February 14th. JMP Securities restated a market outperform rating and set a $57.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. 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. Susquehanna raised MGM Resorts International from a neutral rating to a positive rating and raised their price target for the company from $46.00 to $54.00 in a report on Thursday. Finally, Morgan Stanley boosted their price objective on MGM Resorts International from $45.00 to $46.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently 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 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. The business’s 50-day simple moving average is $43.52 and its two-hundred day simple moving average is $42.24. The stock has a market cap of $12.87 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 1.67 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 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 announced its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business posted $0.44 earnings per share. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. As a group, research analysts predict that MGM Resorts International will post 2.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the transaction, the director now directly owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of large investors have recently made changes to their positions in MGM. CVA Family Office LLC purchased a new position in MGM Resorts International in the fourth quarter worth about $28,000. Sandy Spring Bank lifted its stake in shares of MGM Resorts International by 140.8% in the 3rd quarter. Sandy Spring Bank now owns 855 shares of the company’s stock valued at $31,000 after purchasing an additional 500 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in shares of MGM Resorts International by 510.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after purchasing an additional 1,000 shares during the period. Accent Capital Management LLC bought a new position in shares of MGM Resorts International during the 4th quarter valued at approximately $45,000. Finally, Mendota Financial Group LLC raised its holdings in MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after buying an additional 266 shares during the period. 68.11% of the stock is currently owned by 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.