MGM Resorts International (NYSE:MGM) Now Covered by Analysts at BTIG Research

BTIG Research began coverage on shares of MGM Resorts International (NYSE:MGM) in a report released on Wednesday, MarketBeat reports. The firm issued a buy rating and a $52.00 target price on the stock.

MGM has been the topic of a number of other research reports. JPMorgan Chase & Co. boosted their target price on MGM Resorts International from $54.00 to $57.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. Susquehanna upgraded MGM Resorts International from a neutral rating to a positive rating and boosted their price objective for the company from $46.00 to $54.00 in a report on Thursday, May 2nd. Morgan Stanley raised their target price on MGM Resorts International from $45.00 to $46.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. JMP Securities boosted their price target on shares of MGM Resorts International from $57.00 to $58.00 and gave the stock a market outperform rating in a research note on Monday, May 6th. Finally, Mizuho raised their price objective on shares of MGM Resorts International from $61.00 to $62.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, MGM Resorts International has an average rating of Moderate Buy and a consensus price target of $54.66.

MGM Resorts International Price Performance

NYSE:MGM opened at $43.29 on Wednesday. The company has a market capitalization of $13.58 billion, a P/E ratio of 16.65, a P/E/G ratio of 0.93 and a beta of 2.24. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35. The stock’s fifty day moving average is $40.88 and its two-hundred day moving average is $42.87.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. MGM Resorts International’s revenue for the quarter was up 13.2% compared to the same quarter last year. Equities analysts expect that MGM Resorts International will post 3.02 EPS for the current year.

Insider Transactions at MGM Resorts International

In related news, Director Daniel J. Taylor sold 4,344 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $41.02, for a total value of $178,190.88. Following the completion of the transaction, the director now directly owns 5,250 shares of the company’s stock, valued at $215,355. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $40.44, for a total value of $5,633,292.00. Following the completion of the sale, the director now directly owns 5,859,478 shares of the company’s stock, valued at approximately $236,957,290.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Taylor sold 4,344 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $41.02, for a total value of $178,190.88. Following the transaction, the director now directly owns 5,250 shares in the company, valued at approximately $215,355. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,988 shares of company stock valued at $5,991,759. Corporate insiders own 2.83% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

A number of institutional investors have recently modified their holdings of the business. CVA Family Office LLC purchased a new position in MGM Resorts International during the 4th quarter worth $28,000. EverSource Wealth Advisors LLC grew its holdings in shares of MGM Resorts International by 60.7% during the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after buying an additional 329 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in shares of MGM Resorts International by 510.2% during the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after buying an additional 1,000 shares during the last quarter. Accent Capital Management LLC acquired a new position in MGM Resorts International in the 4th quarter valued at about $45,000. Finally, Mendota Financial Group LLC raised its stake in MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after acquiring an additional 266 shares during the last quarter. 68.11% of the stock is 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.