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

JMP Securities restated their market outperform rating on shares of MGM Resorts International (NYSE:MGM) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $50.00 target price on the stock.

Other equities research analysts have also recently issued reports about the stock. Truist Financial cut their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. BTIG Research lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Stifel Nicolaus raised their price target on MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday. Susquehanna Bancshares upped their price objective on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday. Finally, Capital One Financial raised their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, MGM Resorts International currently has an average rating of “Moderate Buy” and an average target price of $51.47.

MGM Resorts International Stock Down 1.4 %

MGM stock opened at $39.82 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The stock has a market capitalization of $11.85 billion, a P/E ratio of 14.22, a P/E/G ratio of 2.94 and a beta of 2.20. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24. The business has a 50-day moving average of $34.38 and a 200-day moving average of $36.77.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results 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 net margin of 5.23% and a return on equity of 25.84%. On average, sell-side analysts anticipate that MGM Resorts International will post 2.37 earnings per share for the current fiscal year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were 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 in the company, valued at $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 is available at this hyperlink. 2.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On MGM Resorts International

Large investors have recently made changes to their positions in the company. Norges Bank acquired a new position in MGM Resorts International in the 4th quarter valued at $88,033,000. HG Vora Capital Management LLC bought a new stake in shares of MGM Resorts International in the third quarter valued at about $97,725,000. Goldentree Asset Management LP grew its stake in shares of MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after acquiring an additional 1,390,599 shares in the last quarter. AQR Capital Management LLC raised its stake in MGM Resorts International by 12,726.8% in the 4th quarter. AQR Capital Management LLC now owns 1,278,965 shares of the company’s stock worth $44,316,000 after purchasing an additional 1,268,994 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in MGM Resorts International by 50.9% in the 4th quarter. Marshall Wace LLP now owns 3,233,718 shares of the company’s stock valued at $112,048,000 after purchasing an additional 1,090,533 shares during the period. 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.