MGM Resorts International’s (MGM) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of MGM Resorts International (NYSE:MGM) in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a $50.00 price objective on the stock.

Other research analysts also recently issued reports about the company. Morgan Stanley increased their price objective on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Mizuho increased their price objective on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays increased their price objective on MGM Resorts International from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday. Capital One Financial upped their target price on MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Truist Financial dropped their target price on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.47.

MGM Resorts International Trading Up 17.5 %

Shares of MGM stock opened at $40.38 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The company has a market cap of $12.02 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.94 and a beta of 2.20. The stock has a 50 day simple moving average of $34.32 and a 200-day simple moving average of $36.83. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. On average, equities research analysts expect that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

Hedge funds have recently modified their holdings of the business. Empower Advisory Group LLC grew its holdings in shares of MGM Resorts International by 4.2% during the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after purchasing an additional 62,997 shares during the period. Goldentree Asset Management LP boosted its holdings in MGM Resorts International by 86.4% during 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 during the period. Miracle Mile Advisors LLC purchased a new position in MGM Resorts International during the 4th quarter valued at about $2,010,000. Assenagon Asset Management S.A. boosted its holdings in MGM Resorts International by 80.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock valued at $12,411,000 after acquiring an additional 159,522 shares during the period. Finally, Zacks Investment Management boosted its holdings in MGM Resorts International by 7.8% during the 3rd quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock valued at $15,651,000 after acquiring an additional 29,107 shares during the period. 68.11% of the stock is currently 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.