MGM Resorts International (NYSE:MGM) Earns “Market Outperform” Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of MGM Resorts International (NYSE:MGM) in a report released on Thursday morning,Benzinga reports. They currently have a $50.00 target price on the stock.

Several other research firms have also recently weighed in on MGM. Barclays lowered their price objective on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Jefferies Financial Group dropped their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Truist Financial decreased their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday. Mizuho dropped their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.93.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $33.13 on Thursday. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24. The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 3.04 and a beta of 2.21. The company has a 50-day simple moving average of $35.65 and a 200 day simple moving average of $38.21. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The firm had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. On average, sell-side analysts predict that MGM Resorts International will post 2.43 earnings per share for the current year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.83% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

A number of institutional investors have recently added to or reduced their stakes in MGM. MidAtlantic Capital Management Inc. bought a new stake in shares of MGM Resorts International during the third quarter worth $28,000. Eastern Bank acquired a new stake in shares of MGM Resorts International during the 3rd quarter valued at $35,000. Brooklyn Investment Group acquired a new position in MGM Resorts International in the 3rd quarter worth about $44,000. Planning Capital Management Corp bought a new position in MGM Resorts International in the third quarter valued at about $45,000. Finally, Modus Advisors LLC acquired a new stake in shares of MGM Resorts International during the fourth quarter valued at about $46,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

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.