MGM Resorts International (NYSE:MGM) Given New $57.00 Price Target at JMP Securities

MGM Resorts International (NYSE:MGM) had its target price lowered by JMP Securities from $59.00 to $57.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has a market outperform rating on the stock.

Other research analysts also recently issued reports about the company. Susquehanna raised their price objective on MGM Resorts International from $54.00 to $55.00 and gave the stock a positive rating in a report on Thursday. StockNews.com lowered shares of MGM Resorts International from a buy rating to a hold rating in a research note on Friday, May 10th. Mizuho raised their target price on shares of MGM Resorts International from $61.00 to $62.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Stifel Nicolaus upped their price target on shares of MGM Resorts International from $60.00 to $63.00 and gave the stock a buy rating in a research report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an overweight rating in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $54.97.

MGM Resorts International Trading Down 3.7 %

MGM stock traded down $1.39 during midday trading on Thursday, reaching $35.90. The company’s stock had a trading volume of 7,233,834 shares, compared to its average volume of 3,851,417. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $48.36. The firm has a market capitalization of $11.26 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 0.89 and a beta of 2.24. The stock has a fifty day simple moving average of $42.15 and a two-hundred day simple moving average of $42.83. 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 (NYSE:MGM) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.66 by $0.20. The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 25.67%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 EPS. On average, equities research analysts predict that MGM Resorts International will post 3 EPS for the current year.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $40.44, for a total value of $5,633,292.00. Following the completion of the transaction, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The transaction was disclosed in a filing with the SEC, which is available at this link. In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the sale, the director now owns 5,859,478 shares in the company, valued at approximately $236,957,290.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alexis Herman sold 4,344 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $41.50, for a total value of $180,276.00. The disclosure for this sale can be found here. Insiders sold 147,988 shares of company stock worth $5,991,759 in the last three months. Corporate insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Hedge funds have recently added to or reduced their stakes in the business. Capital World Investors raised its stake in shares of MGM Resorts International by 17.7% during the 4th quarter. Capital World Investors now owns 6,551,310 shares of the company’s stock valued at $292,713,000 after buying an additional 984,617 shares during the last quarter. Boston Partners raised its position in MGM Resorts International by 12.6% during the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after acquiring an additional 684,676 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in MGM Resorts International by 5.2% in the fourth quarter. Fisher Asset Management LLC now owns 4,357,344 shares of the company’s stock valued at $194,686,000 after acquiring an additional 213,528 shares during the period. Norges Bank purchased a new stake in MGM Resorts International in the 4th quarter worth approximately $139,599,000. Finally, Westfield Capital Management Co. LP grew its stake in shares of MGM Resorts International by 21.0% during the 4th quarter. Westfield Capital Management Co. LP now owns 2,401,407 shares of the company’s stock worth $107,295,000 after purchasing an additional 416,911 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.

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.