MGM Resorts International (NYSE:MGM) Rating Increased to Positive at Susquehanna

Susquehanna upgraded shares of MGM Resorts International (NYSE:MGM) from a neutral rating to a positive rating in a research report sent to investors on Thursday, Marketbeat reports. They currently have $54.00 price target on the stock, up from their prior price target of $46.00.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. lifted their price target on MGM Resorts International from $52.00 to $54.00 and gave the company an overweight rating in a report on Wednesday, February 14th. Bank Of America (Bofa) lifted their price target on MGM Resorts International from $45.00 to $50.00 and gave the company a neutral rating in a report on Wednesday, February 14th. Morgan Stanley lifted their price target on MGM Resorts International from $45.00 to $46.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Mizuho initiated coverage on MGM Resorts International in a report on Tuesday, March 26th. They set a buy rating and a $61.00 price target on the stock. Finally, JMP Securities reiterated a market outperform rating and set a $57.00 price target on shares of MGM Resorts International in a report on Wednesday, February 14th. Two 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, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $54.77.

MGM Resorts International Stock Up 0.4 %

Shares of MGM Resorts International stock opened at $41.04 on Thursday. The stock’s fifty day moving average is $43.52 and its 200-day moving average is $42.28. The firm has a market capitalization of $12.87 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.68 and a beta of 2.22. The company has a quick ratio of 1.53, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. MGM Resorts International has a 12-month low of $34.12 and a 12-month high of $51.35.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates 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 for the quarter 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. Equities analysts anticipate that MGM Resorts International will post 2.76 earnings per share for the current year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

Large investors have recently made changes to their positions in the stock. CVA Family Office LLC bought a new stake in shares of MGM Resorts International during the 4th quarter worth about $28,000. Sandy Spring Bank boosted its stake in shares of MGM Resorts International by 140.8% during the 3rd quarter. Sandy Spring Bank now owns 855 shares of the company’s stock worth $31,000 after acquiring an additional 500 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of MGM Resorts International by 510.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after acquiring an additional 1,000 shares in the last quarter. Accent Capital Management LLC acquired a new position in shares of MGM Resorts International during the 4th quarter worth about $45,000. Finally, Mendota Financial Group LLC lifted its position in shares of MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after purchasing an additional 266 shares during 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.