MGM Resorts International (NYSE:MGM) Now Covered by Analysts at BTIG Research

BTIG Research started coverage on shares of MGM Resorts International (NYSE:MGM) in a note issued to investors on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $52.00 price target on the stock. BTIG Research’s price objective would suggest a potential upside of 22.84% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. JMP Securities lifted their price target on shares of MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. boosted their target price on shares of MGM Resorts International from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Susquehanna upgraded MGM Resorts International from a “neutral” rating to a “positive” rating and raised their price target for the company from $46.00 to $54.00 in a research note on Thursday, May 2nd. Mizuho upped their price objective on MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, StockNews.com lowered 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 given a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and a consensus target price of $54.66.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $42.33 on Wednesday. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35. The firm has a 50 day moving average of $40.87 and a two-hundred day moving average of $42.87. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $13.28 billion, a PE ratio of 16.28, a P/E/G ratio of 0.93 and a beta of 2.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results 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. The company had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. MGM Resorts International’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.44 EPS. On average, research analysts predict that MGM Resorts International will post 3.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 139,300 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were 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 owns 5,859,478 shares in the company, valued at approximately $236,957,290.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of the firm’s stock in a transaction 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 owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,988 shares of company stock valued at $5,991,759. 2.83% of the stock is owned by company insiders.

Institutional Trading of MGM Resorts International

Large investors have recently modified their holdings of the business. Capital World Investors raised its stake in MGM Resorts International by 17.7% in the 4th quarter. Capital World Investors now owns 6,551,310 shares of the company’s stock valued at $292,713,000 after purchasing an additional 984,617 shares during the last quarter. Boston Partners lifted its stake in shares of MGM Resorts International by 12.6% during the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after buying an additional 684,676 shares during the period. Fisher Asset Management LLC boosted its position in MGM Resorts International by 5.2% during the fourth quarter. Fisher Asset Management LLC now owns 4,357,344 shares of the company’s stock worth $194,686,000 after acquiring an additional 213,528 shares during the last quarter. Norges Bank acquired a new position in MGM Resorts International in the 4th quarter valued at $139,599,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of MGM Resorts International by 4.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,527,893 shares of the company’s stock worth $92,923,000 after purchasing an additional 106,158 shares during the period. 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.