MGM Resorts International (NYSE:MGM) Raised to Buy at Argus

Argus upgraded shares of MGM Resorts International (NYSE:MGM) from a hold rating to a buy rating in a report published on Friday morning, MarketBeat reports. They currently have $50.00 target price on the stock.

MGM has been the topic of a number of other research reports. Mizuho boosted their price objective on MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday. Barclays boosted their price objective on MGM Resorts International from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday. Jefferies Financial Group lowered their price objective on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. JMP Securities reissued a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday. Finally, Macquarie restated an “outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a research report on Thursday. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.47.

MGM Resorts International Stock Performance

Shares of NYSE:MGM opened at $39.82 on Friday. 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 business’s 50 day moving average price is $34.38 and its 200-day moving average price is $36.81. The firm has a market capitalization of $11.85 billion, a PE ratio of 14.22, a P/E/G ratio of 2.94 and a beta of 2.20. 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 issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. As a group, equities research analysts expect that MGM Resorts International will post 2.37 earnings per share for the current fiscal year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Several large investors have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. increased its holdings in MGM Resorts International by 8.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,190 shares of the company’s stock worth $111,000 after purchasing an additional 261 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of MGM Resorts International by 0.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock worth $2,080,000 after acquiring an additional 309 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of MGM Resorts International by 5.4% during the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock worth $227,000 after acquiring an additional 333 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of MGM Resorts International by 1.7% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock worth $684,000 after acquiring an additional 333 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after acquiring an additional 404 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

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.