MGM Resorts International (NYSE:MGM) Earns “Outperform” Rating from Macquarie

MGM Resorts International (NYSE:MGM)‘s stock had its “outperform” rating restated by equities researchers at Macquarie in a report issued on Thursday,Benzinga reports. They presently have a $50.00 target price on the stock. Macquarie’s price objective points to a potential upside of 23.20% from the stock’s current price.

Several other equities research analysts have also recently commented on MGM. Morgan Stanley boosted their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. JMP Securities reiterated a “market outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a report on Thursday. Truist Financial reduced their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Citigroup upped their price target on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday. Finally, BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.47.

MGM Resorts International Price Performance

NYSE MGM traded up $6.22 on Thursday, hitting $40.59. 10,333,610 shares of the company were exchanged, compared to its average volume of 4,921,292. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The firm has a 50 day moving average of $34.25 and a two-hundred day moving average of $36.81. The company has a market cap of $12.08 billion, a P/E ratio of 14.52, a P/E/G ratio of 2.94 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. On average, equities analysts predict that MGM Resorts International will post 2.37 EPS for the current year.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, the director now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Several large investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in shares of MGM Resorts International during the 4th quarter valued at about $20,053,000. Applied Finance Capital Management LLC bought a new stake in MGM Resorts International in the fourth quarter worth $253,000. Bank of Nova Scotia grew its holdings in shares of MGM Resorts International by 186.5% during the fourth quarter. Bank of Nova Scotia now owns 38,770 shares of the company’s stock valued at $1,343,000 after buying an additional 25,238 shares during the last quarter. Invesco Ltd. lifted its position in MGM Resorts International by 22.5% during the fourth quarter. Invesco Ltd. now owns 5,785,343 shares of the company’s stock valued at $200,462,000 after purchasing an additional 1,063,707 shares during the period. Finally, Cerity Partners LLC grew its position in MGM Resorts International by 56.3% during the fourth quarter. Cerity Partners LLC now owns 51,382 shares of the company’s stock valued at $1,856,000 after buying an additional 18,501 shares during the period. Hedge funds and other institutional investors own 68.11% of the company’s stock.

About MGM Resorts International

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.