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

MGM Resorts International (NYSE:MGM)‘s stock had its “market outperform” rating reissued by stock analysts 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’ price objective suggests a potential upside of 25.58% from the company’s current price.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus raised their price objective on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays lifted their price target 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. Morgan Stanley lifted their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. BTIG Research downgraded shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Finally, Mizuho lifted their price target on shares of MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.47.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $39.82 on Thursday. The company has a market cap of $11.85 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth 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 quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The firm has a 50 day moving average of $34.38 and a 200-day moving average of $36.81.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS 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, equities analysts forecast that MGM Resorts International will post 2.37 earnings per share for the current year.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total value 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. The trade was a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Empower Advisory Group LLC grew its holdings in MGM Resorts International by 4.2% during the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after buying an additional 62,997 shares in the last quarter. Goldentree Asset Management LP grew its holdings in MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after buying an additional 1,390,599 shares in the last quarter. Miracle Mile Advisors LLC purchased a new position in MGM Resorts International during the 4th quarter valued at about $2,010,000. Assenagon Asset Management S.A. grew its holdings in MGM Resorts International by 80.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock valued at $12,411,000 after buying an additional 159,522 shares in the last quarter. Finally, Zacks Investment Management grew its holdings in MGM Resorts International by 7.8% during the 3rd quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock valued at $15,651,000 after buying an additional 29,107 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

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.