StockNews.com Upgrades MGM Resorts International (NYSE:MGM) to “Buy”

MGM Resorts International (NYSE:MGM) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

MGM has been the topic of a number of other reports. TheStreet upgraded MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Macquarie reissued an “outperform” rating and issued a $58.00 price objective on shares of MGM Resorts International in a research note on Wednesday, February 14th. Bank Of America (Bofa) lifted their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Morgan Stanley upped their price target on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Finally, Barclays raised their price objective on shares of MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, MGM Resorts International has an average rating of “Moderate Buy” and an average target price of $54.77.

MGM Resorts International Price Performance

Shares of MGM traded up $0.17 during trading hours on Thursday, reaching $41.04. The company had a trading volume of 4,379,185 shares, compared to its average volume of 3,597,847. The company has a current ratio of 1.51, a quick ratio of 1.53 and a debt-to-equity ratio of 1.56. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35. The firm has a 50 day simple moving average of $43.52 and a 200-day simple moving average of $42.24. The company has a market capitalization of $12.87 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.67 and a beta of 2.22.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. Research analysts expect that MGM Resorts International will post 2.48 earnings per share for the current year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. CVA Family Office LLC acquired a new position in shares of MGM Resorts International during the 4th quarter valued at $28,000. Sandy Spring Bank boosted its position in shares of MGM Resorts International by 140.8% in the third quarter. Sandy Spring Bank now owns 855 shares of the company’s stock worth $31,000 after buying an additional 500 shares during the period. Sunbelt Securities Inc. lifted its position in MGM Resorts International by 510.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after acquiring an additional 1,000 shares in the last quarter. Accent Capital Management LLC purchased a new position in MGM Resorts International in the 4th quarter worth approximately $45,000. Finally, Mendota Financial Group LLC grew its position in MGM Resorts International by 36.0% in the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after acquiring an additional 266 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

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.