MGM Resorts International (NYSE:MGM) Lifted to Positive at Susquehanna

MGM Resorts International (NYSE:MGM) was upgraded by stock analysts at Susquehanna from a “neutral” rating to a “positive” rating in a report issued on Thursday, Briefing.com reports. The brokerage presently has a $54.00 target price on the stock. Susquehanna’s price objective would indicate a potential upside of 35.92% from the company’s previous close.

Several other equities research analysts also recently weighed in on MGM. JMP Securities reissued a “market outperform” rating and set a $57.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 14th. Macquarie reissued an “outperform” rating and set a $58.00 target price on shares of MGM Resorts International in a research report on Wednesday, February 14th. StockNews.com downgraded shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Bank Of America (Bofa) increased their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Finally, Mizuho started coverage on MGM Resorts International in a report on Tuesday, March 26th. They issued a “buy” rating and a $61.00 target price for the company. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.72.

MGM Resorts International Trading Up 0.7 %

MGM stock opened at $39.73 on Thursday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.53 and a current ratio of 1.57. The company has a market capitalization of $12.60 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 1.62 and a beta of 2.22. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35. The company’s 50-day simple moving average is $43.63 and its 200 day simple moving average is $42.24.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.18. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The business had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the business posted $0.44 earnings per share. MGM Resorts International’s revenue was up 13.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that MGM Resorts International will post 2.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 325,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the transaction, the director now owns 6,098,778 shares in the company, valued at $261,637,576.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. CVA Family Office LLC bought a new position in shares of MGM Resorts International during the 4th quarter valued at approximately $28,000. Sandy Spring Bank raised its position in MGM Resorts International by 140.8% during the 3rd quarter. Sandy Spring Bank now owns 855 shares of the company’s stock valued at $31,000 after purchasing an additional 500 shares in the last quarter. Sunbelt Securities Inc. raised its holdings 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 acquiring an additional 1,000 shares in the last quarter. Accent Capital Management LLC purchased a new stake in shares of MGM Resorts International in the 4th quarter worth approximately $45,000. Finally, Mendota Financial Group LLC boosted its stake in shares of MGM Resorts International by 36.0% during the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after purchasing an additional 266 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

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.