MGM Resorts International (NYSE:MGM) Given New $50.00 Price Target at JMP Securities

MGM Resorts International (NYSE:MGM) had its target price decreased by analysts at JMP Securities from $54.00 to $50.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ target price suggests a potential upside of 33.16% from the company’s current price.

Other analysts have also issued research reports about the stock. Stifel Nicolaus lifted their price objective on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company decreased their price target on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Morgan Stanley increased their price objective on shares of 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. Macquarie reduced their target price on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, Susquehanna upped their price target on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.85.

MGM Resorts International Stock Performance

Shares of MGM opened at $37.55 on Monday. The firm’s fifty day simple moving average is $38.68 and its two-hundred day simple moving average is $39.69. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $11.18 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 2.70 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 EPS. As a group, analysts predict that MGM Resorts International will post 2.5 EPS for the current year.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.83% of the stock is owned by insiders.

Institutional Investors Weigh In On MGM Resorts International

Institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of MGM Resorts International during the 2nd quarter worth approximately $28,000. MidAtlantic Capital Management Inc. bought a new stake in MGM Resorts International during the third quarter worth $28,000. Eastern Bank purchased a new position in MGM Resorts International in the third quarter worth $35,000. EverSource Wealth Advisors LLC grew its stake in MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after purchasing an additional 329 shares during the period. Finally, UMB Bank n.a. increased its position in shares of MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares during the last quarter. 68.11% of the stock is owned by 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.