MGM Resorts International (NYSE:MGM) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of MGM Resorts International (NYSE:MGM) from a hold rating to a buy rating in a report released on Thursday.

Several other brokerages have also issued reports on MGM. JPMorgan Chase & Co. upped their target price on shares of MGM Resorts International from $54.00 to $57.00 and gave the stock an overweight rating in a research report on Thursday. TheStreet raised MGM Resorts International from a c+ rating to a b- rating in a research note on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of MGM Resorts International from $50.00 to $52.00 and gave the stock a buy rating in a research note on Wednesday, February 14th. Morgan Stanley upped their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. Finally, Mizuho lifted their target price on shares of MGM Resorts International from $61.00 to $62.00 and gave the stock a buy rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $54.83.

MGM Resorts International Price Performance

NYSE MGM traded down $0.32 on Thursday, hitting $40.72. The stock had a trading volume of 3,522,568 shares, compared to its average volume of 3,915,263. The firm has a 50-day moving average of $43.52 and a 200-day moving average of $42.32. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.46 and a current ratio of 1.51. MGM Resorts International has a 52-week low of $34.12 and a 52-week high of $51.35. The company has a market capitalization of $12.77 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 0.95 and a beta of 2.22.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. The company had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 earnings per share. Equities analysts expect that MGM Resorts International will post 2.76 EPS for the current year.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the company’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 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.83% of the stock is owned by insiders.

Institutional Trading of MGM Resorts International

Hedge funds and other institutional investors have recently modified their holdings of the business. CVA Family Office LLC bought a new stake in MGM Resorts International during the fourth quarter worth about $28,000. Sandy Spring Bank increased its position in MGM Resorts International by 140.8% during the 3rd quarter. Sandy Spring Bank now owns 855 shares of the company’s stock valued at $31,000 after buying an additional 500 shares in the last quarter. Sunbelt Securities Inc. increased 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 valued at $44,000 after buying an additional 1,000 shares in the last quarter. Accent Capital Management LLC purchased a new position in MGM Resorts International during the fourth quarter valued at $45,000. Finally, Mendota Financial Group LLC boosted its holdings 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 worth $47,000 after acquiring an additional 266 shares in the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

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.