Argus upgraded shares of MGM Resorts International (NYSE:MGM - Free Report) from a hold rating to a buy rating in a research report released on Friday morning, MarketBeat reports. The brokerage currently has $50.00 target price on the stock.
Several other research firms have also recently weighed in on MGM. Mizuho raised their target price 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, February 13th. Citigroup increased their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Capital One Financial increased their price objective on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. BTIG Research lowered shares of MGM Resorts International from a "buy" rating to a "neutral" rating in a research report on Monday, February 3rd. Finally, Barclays increased 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 report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $51.47.
View Our Latest Stock Report on MGM
MGM Resorts International Price Performance
Shares of NYSE MGM traded down $1.70 during midday trading on Friday, reaching $38.12. The stock had a trading volume of 6,062,168 shares, compared to its average volume of 5,268,659. The stock has a 50-day moving average of $34.48 and a 200-day moving average of $36.76. 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 company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 13.61, a price-to-earnings-growth ratio of 2.94 and a beta of 2.20. MGM Resorts International has a 12-month low of $31.61 and a 12-month high of $48.24.
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, beating 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%. As a group, research analysts anticipate that MGM Resorts International will post 2.37 EPS for the current fiscal year.
Insider Transactions at MGM Resorts International
In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International 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 completion of the sale, the director now owns 5,687,478 shares in the company, valued at $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 available through the SEC website. Company insiders own 2.13% of the company's stock.
Institutional Investors Weigh In On MGM Resorts International
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. bought a new stake in MGM Resorts International during the 3rd quarter valued at about $28,000. Global Trust Asset Management LLC bought a new stake in MGM Resorts International during the 4th quarter valued at about $28,000. Assetmark Inc. lifted its holdings in MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock valued at $28,000 after buying an additional 411 shares in the last quarter. True Wealth Design LLC bought a new stake in MGM Resorts International during the 4th quarter valued at about $33,000. Finally, Eastern Bank bought a new stake in MGM Resorts International during the 3rd quarter valued at about $35,000. Institutional investors own 68.11% of the company's stock.
About MGM Resorts International
(
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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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