MGM Resorts International (NYSE:MGM) Receives Market Outperform Rating from JMP Securities

MGM Resorts International (NYSE:MGM - Get Free Report)'s stock had its "market outperform" rating reissued by equities researchers at JMP Securities in a research report issued on Thursday,Benzinga reports. They currently have a $50.00 target price on the stock. JMP Securities' target price would suggest a potential upside of 50.91% from the company's previous close.

A number of other equities analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, October 1st. Mizuho dropped their price target on MGM Resorts International from $57.00 to $56.00 and set an "outperform" rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company decreased their target price on MGM Resorts International from $53.00 to $47.00 and set an "overweight" rating for the company in a report on Thursday, October 17th. Jefferies Financial Group cut their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, January 3rd. Finally, Truist Financial dropped their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.93.

MGM Resorts International Trading Up 0.4 %

Shares of MGM Resorts International stock traded up $0.13 during mid-day trading on Thursday, hitting $33.13. 3,927,526 shares of the stock were exchanged, compared to its average volume of 4,915,157. The company has a 50-day simple moving average of $35.74 and a 200 day simple moving average of $38.24. 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 $9.86 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 3.04 and a beta of 2.21. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24.

MGM Resorts International (NYSE:MGM - Get Free Report) last released 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 firm had revenue of $4.18 billion during the quarter, compared to analysts' expectations of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm's revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. Research analysts forecast that MGM Resorts International will post 2.43 EPS for the current year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction dated Friday, December 13th. The shares were 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 of the company's stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.83% of the stock is currently owned by insiders.

Institutional Trading of MGM Resorts International

Several hedge funds and other institutional investors have recently bought and sold shares of MGM. HG Vora Capital Management LLC acquired a new position in shares of MGM Resorts International in the 3rd quarter worth approximately $97,725,000. Goldentree Asset Management LP boosted its holdings in MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company's stock worth $117,270,000 after purchasing an additional 1,390,599 shares during the period. Marshall Wace LLP increased its stake in MGM Resorts International by 174.8% during the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company's stock valued at $49,330,000 after purchasing an additional 706,159 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of MGM Resorts International during the third quarter worth $17,622,000. Finally, ArrowMark Colorado Holdings LLC boosted its holdings in shares of MGM Resorts International by 207.5% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company's stock valued at $25,662,000 after buying an additional 442,975 shares during the period. 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.