Macquarie Reaffirms Outperform Rating for MGM Resorts International (NYSE:MGM)

Macquarie restated their outperform rating on shares of MGM Resorts International (NYSE:MGM - Free Report) in a research report report published on Thursday,Benzinga reports. The brokerage currently has a $50.00 price objective on the stock.

A number of other equities analysts have also commented on MGM. Wells Fargo & Company increased their price target on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a report on Thursday. Barclays upped their price objective on shares of MGM Resorts International from $45.00 to $47.00 and gave the company an "overweight" rating in a research note on Thursday. Susquehanna Bancshares upped their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Mizuho upped their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.47.

MGM Resorts International Price Performance

MGM Resorts International stock traded down $0.56 during midday trading on Thursday, reaching $39.82. 6,451,467 shares of the stock were exchanged, compared to its average volume of 4,507,628. The company's fifty day moving average is $34.38 and its 200-day moving average is $36.73. The firm has a market cap of $11.85 billion, a PE ratio of 14.22, a PEG ratio of 2.94 and a beta of 2.20. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. On average, sell-side analysts forecast that MGM Resorts International will post 2.37 EPS for the current year.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the company's stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.13% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Empower Advisory Group LLC raised its holdings in MGM Resorts International by 4.2% in the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company's stock worth $61,430,000 after purchasing an additional 62,997 shares in the last quarter. Goldentree Asset Management LP increased 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 worth $117,270,000 after acquiring an additional 1,390,599 shares in the last quarter. Miracle Mile Advisors LLC bought a new position in shares of MGM Resorts International in the 4th quarter worth about $2,010,000. Assenagon Asset Management S.A. increased 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 worth $12,411,000 after acquiring an additional 159,522 shares in the last quarter. Finally, Zacks Investment Management increased 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 worth $15,651,000 after acquiring an additional 29,107 shares in the last quarter. 68.11% of the stock is currently 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.