JMP Securities Issues Pessimistic Forecast for MGM Resorts International (NYSE:MGM) Stock Price

MGM Resorts International (NYSE:MGM - Get Free Report) had its price target dropped by equities research analysts at JMP Securities from $50.00 to $45.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. JMP Securities' target price suggests a potential upside of 55.84% from the company's previous close.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company upped their price target on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Capital One Financial upped their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Argus raised MGM Resorts International from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research report on Friday, February 14th. Jefferies Financial Group cut their price target on MGM Resorts International from $52.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, January 3rd. Finally, Mizuho raised their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $50.71.

MGM Resorts International Price Performance

Shares of MGM Resorts International stock traded up $0.42 on Thursday, hitting $28.88. The company's stock had a trading volume of 621,352 shares, compared to its average volume of 4,590,939. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $47.26. The company has a market capitalization of $8.17 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96. The firm has a fifty day moving average price of $32.34 and a 200-day moving average price of $35.07.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. On average, equities research analysts expect that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the transaction, the chief financial officer now owns 75,648 shares of the company's stock, valued at $2,433,596.16. The trade was a 15.23 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,301 shares of the company's stock, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.13% of the company's stock.

Institutional Trading of MGM Resorts International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of MGM Resorts International during the fourth quarter valued at $88,033,000. Eminence Capital LP bought a new stake in MGM Resorts International during the 4th quarter worth approximately $72,408,000. AQR Capital Management LLC boosted its holdings in MGM Resorts International by 12,726.8% in the fourth quarter. AQR Capital Management LLC now owns 1,278,965 shares of the company's stock valued at $44,316,000 after acquiring an additional 1,268,994 shares during the last quarter. Marshall Wace LLP raised its holdings in MGM Resorts International by 50.9% during the 4th quarter. Marshall Wace LLP now owns 3,233,718 shares of the company's stock worth $112,048,000 after purchasing an additional 1,090,533 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of MGM Resorts International by 22.5% in the 4th quarter. Invesco Ltd. now owns 5,785,343 shares of the company's stock valued at $200,462,000 after purchasing an additional 1,063,707 shares during the last quarter. Institutional investors own 68.11% of the company's stock.

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.

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