MGM Resorts International’s (MGM) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of MGM Resorts International (NYSE:MGM) in a report published on Thursday,Benzinga reports. JMP Securities currently has a $50.00 price objective on the stock.

A number of other research firms also recently weighed in on MGM. Jefferies Financial Group dropped their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Mizuho reduced their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Morgan Stanley raised their target price on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Barclays lowered their price target on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.93.

MGM Resorts International Stock Down 0.8 %

NYSE MGM opened at $32.85 on Thursday. The stock has a market capitalization of $9.78 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 3.04 and a beta of 2.21. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The stock has a fifty day moving average of $35.57 and a 200-day moving average of $38.11.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. MGM Resorts International’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 EPS. On average, equities research analysts forecast that MGM Resorts International will post 2.43 EPS for the current year.

Insider Activity

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 value of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.83% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

Several hedge funds have recently made changes to their positions in the business. HG Vora Capital Management LLC acquired a new position in MGM Resorts International during the third quarter worth $97,725,000. Goldentree Asset Management LP boosted its stake in shares of MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after buying an additional 1,390,599 shares during the last quarter. Marshall Wace LLP increased its position in shares of MGM Resorts International by 174.8% in the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after acquiring an additional 706,159 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of MGM Resorts International in the third quarter valued at about $17,622,000. Finally, ArrowMark Colorado Holdings LLC raised its holdings in MGM Resorts International by 207.5% during the third quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company’s stock worth $25,662,000 after acquiring an additional 442,975 shares in the last quarter. 68.11% of the stock is 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.