JMP Securities Reaffirms “Market Outperform” Rating for MGM Resorts International (NYSE:MGM)

MGM Resorts International (NYSE:MGM)‘s stock had its “market outperform” rating reiterated by equities researchers at JMP Securities in a report issued on Thursday,Benzinga reports. They presently have a $50.00 price target on the stock. JMP Securities’ price objective suggests a potential upside of 28.37% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Morgan Stanley upped their target price on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company raised their price target on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday. Jefferies Financial Group reduced 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 report on Friday, January 3rd. BTIG Research lowered shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Finally, Barclays boosted their price target on shares of MGM Resorts International from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.88.

MGM Resorts International Trading Up 13.3 %

Shares of MGM Resorts International stock traded up $4.58 on Thursday, hitting $38.95. The stock had a trading volume of 5,172,422 shares, compared to its average volume of 4,704,147. The stock has a 50 day moving average of $34.25 and a 200 day moving average of $36.81. The firm has a market capitalization of $11.60 billion, a P/E ratio of 13.98, a PEG ratio of 2.94 and a beta of 2.20. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. 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 released its quarterly earnings data 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 net margin of 5.23% and a return on equity of 25.84%. Sell-side 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 related news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. bought a new stake in shares of MGM Resorts International during the 3rd quarter valued at about $28,000. Assetmark Inc. boosted its position in MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after acquiring an additional 411 shares in the last quarter. Global Trust Asset Management LLC purchased a new position in shares of MGM Resorts International during the 4th quarter worth approximately $28,000. Eastern Bank bought a new position in shares of MGM Resorts International in the 3rd quarter worth approximately $35,000. Finally, Brooklyn Investment Group purchased a new position in shares of MGM Resorts International in the 3rd quarter valued at approximately $44,000. 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.