MGM Resorts International (NYSE:MGM) Given New $54.00 Price Target at JMP Securities

MGM Resorts International (NYSE:MGM) had its price target reduced by JMP Securities from $56.00 to $54.00 in a research note released on Thursday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

MGM has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft lowered their price target on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. BTIG Research assumed coverage on MGM Resorts International in a research report on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 price target for the company. UBS Group raised MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Stifel Nicolaus boosted their price target on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company reduced their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.15.

MGM Resorts International Price Performance

Shares of NYSE MGM traded up $0.39 during mid-day trading on Thursday, reaching $37.26. The company had a trading volume of 1,304,481 shares, compared to its average volume of 4,092,948. The company has a current ratio of 1.47, a quick ratio of 1.42 and a debt-to-equity ratio of 1.65. The stock has a market cap of $11.32 billion, a PE ratio of 13.17, a P/E/G ratio of 1.02 and a beta of 2.23. The company has a 50-day moving average price of $38.50 and a two-hundred day moving average price of $40.24. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.46% and a net margin of 5.23%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.64 earnings per share. On average, equities analysts anticipate that MGM Resorts International will post 2.55 earnings per share for the current year.

Insider Buying and Selling at MGM Resorts International

In other news, CEO William Hornbuckle acquired 58,900 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $33.73 per share, for a total transaction of $1,986,697.00. Following the transaction, the chief executive officer now owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the sale, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William Hornbuckle bought 58,900 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $33.73 per share, for a total transaction of $1,986,697.00. Following the transaction, the chief executive officer now owns 377,112 shares of the company’s stock, valued at $12,719,987.76. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 216,400 shares of company stock worth $7,312,197. Insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of hedge funds and other institutional investors have recently modified their holdings of MGM. International Assets Investment Management LLC bought a new position in MGM Resorts International during the second quarter worth about $28,000. Eastern Bank bought a new position in MGM Resorts International during the third quarter worth about $35,000. EverSource Wealth Advisors LLC grew its holdings in MGM Resorts International by 60.7% during the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after purchasing an additional 329 shares during the period. UMB Bank n.a. grew its holdings in MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after purchasing an additional 237 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in MGM Resorts International during the second quarter worth about $49,000. Institutional investors and hedge funds 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.