JMP Securities Reiterates Market Outperform Rating for MGM Resorts International (NYSE:MGM)

MGM Resorts International (NYSE:MGM - Get Free Report)'s stock had its "market outperform" rating restated by equities research analysts at JMP Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $50.00 target price on the stock. JMP Securities' price target would indicate a potential upside of 25.58% from the stock's current price.

Several other equities research analysts have also weighed in on the stock. Mizuho upped their target price on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday. Capital One Financial increased their price objective on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Morgan Stanley increased their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 22nd. Truist Financial decreased their price objective 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, January 14th. Finally, Jefferies Financial Group decreased their price objective 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. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $51.47.

MGM Resorts International Price Performance

Shares of MGM stock traded down $0.56 during mid-day trading on Thursday, reaching $39.82. The company's stock had a trading volume of 6,451,467 shares, compared to its average volume of 4,507,628. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The company has a market cap of $11.85 billion, a P/E ratio of 14.22, a PEG ratio of 2.94 and a beta of 2.20. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The firm's 50-day moving average is $34.38 and its two-hundred day moving average is $36.73.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate 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, research analysts predict that MGM Resorts International will post 2.37 earnings per share for the current year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the firm's stock in a transaction that occurred on 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 sale, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.13% of the stock is currently owned by corporate insiders.

Institutional Trading of MGM Resorts International

Several hedge funds have recently bought and sold shares of the stock. TD Waterhouse Canada Inc. raised its holdings in MGM Resorts International by 8.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,190 shares of the company's stock worth $111,000 after buying an additional 261 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of MGM Resorts International by 0.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company's stock worth $2,080,000 after acquiring an additional 309 shares in the last quarter. Ballentine Partners LLC grew its stake in shares of MGM Resorts International by 5.4% during the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company's stock worth $227,000 after acquiring an additional 333 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of MGM Resorts International by 1.7% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company's stock worth $684,000 after acquiring an additional 333 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after acquiring an additional 404 shares in the last quarter. 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.