JMP Securities Reiterates “Market Outperform” Rating for MGM Resorts International (NYSE:MGM)

MGM Resorts International (NYSE:MGM)‘s stock had its “market outperform” rating reissued by stock analysts at JMP Securities in a research note issued on Thursday,Benzinga reports. They presently have a $50.00 price target on the stock. JMP Securities’ price objective suggests a potential upside of 52.20% from the company’s previous close.

Several other analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Barclays lowered their price target on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Wells Fargo & Company reduced their price objective 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. Morgan Stanley boosted their price objective on 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. Finally, Jefferies Financial Group reduced their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.93.

MGM Resorts International Trading Down 0.8 %

Shares of NYSE:MGM opened at $32.85 on Thursday. 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’s 50-day moving average is $35.57 and its 200-day moving average is $38.14. The company has a market cap of $9.78 billion, a P/E ratio of 11.73, a P/E/G 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.

MGM Resorts International (NYSE:MGM) last released 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). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the business earned $0.64 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that MGM Resorts International will post 2.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 51,000 shares of the business’s 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 transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

Several institutional investors have recently bought and sold shares of the business. Fisher Asset Management LLC grew its holdings in shares of MGM Resorts International by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock worth $177,777,000 after purchasing an additional 90,645 shares during the last quarter. Goldentree Asset Management LP increased its position in MGM Resorts International by 86.4% in the 3rd 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. HG Vora Capital Management LLC acquired a new stake in MGM Resorts International in the 3rd quarter valued at about $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of MGM Resorts International by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock worth $89,832,000 after purchasing an additional 123,124 shares in the last quarter. Finally, FMR LLC lifted its position in shares of MGM Resorts International by 5.0% during the third quarter. FMR LLC now owns 1,681,699 shares of the company’s stock worth $65,738,000 after purchasing an additional 79,486 shares in the last quarter. 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.