Susquehanna Upgrades MGM Resorts International (NYSE:MGM) to “Positive”

MGM Resorts International (NYSE:MGM) was upgraded by investment analysts at Susquehanna from a “neutral” rating to a “positive” rating in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage presently has a $54.00 target price on the stock. Susquehanna’s price objective suggests a potential upside of 35.92% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Macquarie reaffirmed an “outperform” rating and issued a $58.00 target price on shares of MGM Resorts International in a research note on Wednesday, February 14th. Barclays reduced their target price on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. JPMorgan Chase & Co. upped their price objective on shares of MGM Resorts International from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. TheStreet raised shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Finally, Mizuho started coverage on shares of MGM Resorts International in a report on Tuesday, March 26th. They issued a “buy” rating and a $61.00 target price for the company. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and a consensus price target of $55.72.

MGM Resorts International Stock Performance

NYSE MGM opened at $39.73 on Thursday. The company has a market capitalization of $12.60 billion, a P/E ratio of 12.53, a PEG ratio of 1.62 and a beta of 2.22. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35. The business has a 50 day moving average price of $43.63 and a 200 day moving average price of $42.24.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.18. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the firm posted $0.44 EPS. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. Sell-side analysts expect that MGM Resorts International will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in MGM Resorts International by 28.7% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 91,456 shares of the company’s stock worth $3,362,000 after purchasing an additional 20,400 shares during the period. Kingswood Wealth Advisors LLC bought a new stake in shares of MGM Resorts International during the 3rd quarter worth about $342,000. Raymond James & Associates lifted its stake in shares of MGM Resorts International by 60.8% in the 3rd quarter. Raymond James & Associates now owns 322,520 shares of the company’s stock worth $11,856,000 after acquiring an additional 121,947 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in shares of MGM Resorts International by 42.9% in the third quarter. Stratos Wealth Partners LTD. now owns 27,461 shares of the company’s stock valued at $1,009,000 after acquiring an additional 8,244 shares in the last quarter. Finally, Independent Advisor Alliance increased its stake in shares of MGM Resorts International by 9.4% during the third quarter. Independent Advisor Alliance now owns 15,653 shares of the company’s stock valued at $575,000 after acquiring an additional 1,349 shares during the period. 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.