MGM Resorts International (NYSE:MGM) Research Coverage Started at BTIG Research

BTIG Research started coverage on shares of MGM Resorts International (NYSE:MGM - Free Report) in a research report sent to investors on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $52.00 price target on the stock.

Several other analysts have also recently issued reports on the stock. Susquehanna raised shares of MGM Resorts International from a neutral rating to a positive rating and upped their price target for the company from $46.00 to $54.00 in a report on Thursday, May 2nd. Mizuho boosted their target price on shares of MGM Resorts International from $61.00 to $62.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Barclays boosted their target price on shares of MGM Resorts International from $55.00 to $56.00 and gave the company an overweight rating in a research note on Thursday, May 2nd. JMP Securities boosted their target price on shares of MGM Resorts International from $57.00 to $58.00 and gave the company a market outperform rating in a research note on Monday, May 6th. Finally, StockNews.com lowered shares of MGM Resorts International from a buy rating to a hold rating in a research report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $54.66.

MGM Resorts International Price Performance

MGM traded up $0.96 during midday trading on Wednesday, reaching $43.29. 2,401,064 shares of the company's stock were exchanged, compared to its average volume of 3,792,905. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. The stock has a market capitalization of $13.58 billion, a PE ratio of 16.65, a P/E/G ratio of 0.93 and a beta of 2.24. The business's 50-day moving average price is $40.88 and its 200 day moving average price is $42.87. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.18. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. MGM Resorts International's revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 earnings per share. As a group, equities analysts anticipate that MGM Resorts International will post 3.02 EPS for the current fiscal year.

Insider Buying and Selling

In other MGM Resorts International news, Director Alexis Herman sold 4,344 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Keith A. Meister sold 139,300 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $40.44, for a total value of $5,633,292.00. Following the completion of the sale, the director now directly owns 5,859,478 shares of the company's stock, valued at $236,957,290.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexis Herman sold 4,344 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $41.50, for a total value of $180,276.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,988 shares of company stock worth $5,991,759. Insiders own 2.83% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CVA Family Office LLC bought a new position in shares of MGM Resorts International during the fourth quarter valued at $28,000. EverSource Wealth Advisors LLC increased its stake in shares of MGM Resorts International by 60.7% in the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company's stock valued at $41,000 after buying an additional 329 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of MGM Resorts International by 510.2% in the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company's stock valued at $44,000 after buying an additional 1,000 shares in the last quarter. Accent Capital Management LLC acquired a new stake in shares of MGM Resorts International in the fourth quarter valued at $45,000. Finally, Mendota Financial Group LLC increased its stake in shares of MGM Resorts International by 36.0% in the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company's stock valued at $47,000 after buying an additional 266 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

About MGM Resorts International

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.