MGM Resorts International’s (MGM) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of MGM Resorts International (NYSE:MGM) in a research report sent to investors on Thursday,Benzinga reports. JMP Securities currently has a $50.00 price target on the stock.

A number of other research firms have also issued reports on MGM. Jefferies Financial Group reduced their price target on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Susquehanna Bancshares increased their price target on MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday. Stifel Nicolaus increased their price target on MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday. Barclays raised their target price on MGM Resorts International from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Morgan Stanley raised 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. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and an average target price of $51.47.

MGM Resorts International Price Performance

MGM stock opened at $40.38 on Thursday. 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 firm has a market capitalization of $12.02 billion, a P/E ratio of 14.42, a P/E/G ratio of 2.94 and a beta of 2.20. The business’s 50-day moving average is $34.32 and its two-hundred day moving average is $36.83. 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 posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that MGM Resorts International will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling

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 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 filing with the SEC, which is available through the SEC website. 2.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Empower Advisory Group LLC grew its stake in MGM Resorts International by 4.2% during the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after buying an additional 62,997 shares during the last quarter. Goldentree Asset Management LP grew its stake in shares of MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares during the last quarter. Miracle Mile Advisors LLC purchased a new position in shares of MGM Resorts International in the 4th quarter valued at approximately $2,010,000. Assenagon Asset Management S.A. grew its stake in shares of MGM Resorts International by 80.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock valued at $12,411,000 after purchasing an additional 159,522 shares during the last quarter. Finally, Zacks Investment Management grew its stake in shares of MGM Resorts International by 7.8% in the 3rd quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock valued at $15,651,000 after purchasing an additional 29,107 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

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.