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

MGM Resorts International (NYSE:MGM)‘s stock had its “market outperform” rating reaffirmed by analysts at JMP Securities in a research note issued to investors on Thursday,Benzinga reports. They currently have a $50.00 target price on the stock. JMP Securities’ target price indicates a potential upside of 51.70% from the company’s previous close.

Several other analysts also recently issued reports on the company. Jefferies Financial Group decreased their price target on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Barclays dropped their price target on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Mizuho decreased their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Truist Financial dropped their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Morgan Stanley raised their price target on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.93.

MGM Resorts International Stock Down 0.1 %

MGM traded down $0.04 during midday trading on Thursday, hitting $32.96. 322,004 shares of the company’s stock traded hands, compared to its average volume of 4,546,781. 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 company has a market cap of $9.81 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 3.04 and a beta of 2.21. The stock’s fifty day simple moving average is $35.74 and its 200-day simple moving average is $38.24. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 EPS. As a group, equities analysts anticipate that MGM Resorts International will post 2.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.83% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of hedge funds have recently modified their holdings of the company. MidAtlantic Capital Management Inc. bought a new stake in MGM Resorts International in the third quarter valued at approximately $28,000. Eastern Bank acquired a new position in shares of MGM Resorts International in the 3rd quarter valued at $35,000. Brooklyn Investment Group bought a new stake in shares of MGM Resorts International in the 3rd quarter valued at $44,000. Planning Capital Management Corp acquired a new stake in MGM Resorts International during the 3rd quarter worth $45,000. Finally, Modus Advisors LLC bought a new position in MGM Resorts International during the fourth quarter worth about $46,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

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.