MGM Resorts International (NYSE:MGM) Given Outperform Rating at Macquarie

Macquarie reaffirmed their outperform rating on shares of MGM Resorts International (NYSE:MGM) in a report published on Thursday morning,Benzinga reports. Macquarie currently has a $50.00 price target on the stock.

A number of other equities analysts have also recently weighed in on the stock. Jefferies Financial Group reduced their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Truist Financial reduced their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. JMP Securities restated a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a report on Thursday. Wells Fargo & Company raised their price objective on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Susquehanna Bancshares raised their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.47.

MGM Resorts International Trading Up 17.5 %

Shares of NYSE MGM opened at $40.38 on Thursday. The company’s fifty day moving average is $34.32 and its 200-day moving average is $36.83. The stock has a market cap of $12.02 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 2.94 and a beta of 2.20. MGM Resorts International has a twelve month low of $31.61 and a twelve month 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.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. Equities research analysts predict that MGM Resorts International will post 2.37 EPS for the current year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction on Friday, December 13th. The shares were 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 filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGM. MidAtlantic Capital Management Inc. acquired a new position in shares of MGM Resorts International during the 3rd quarter worth about $28,000. Global Trust Asset Management LLC acquired a new position in shares of MGM Resorts International during the 4th quarter worth about $28,000. Assetmark Inc. increased its stake in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after purchasing an additional 411 shares during the last quarter. Eastern Bank acquired a new position in shares of MGM Resorts International during the 3rd quarter worth about $35,000. Finally, Global Retirement Partners LLC increased its stake in shares of MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares during the last quarter. 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.