JMP Securities Issues Pessimistic Forecast for MGM Resorts International (NYSE:MGM) Stock Price

MGM Resorts International (NYSE:MGM - Free Report) had its price objective lowered by JMP Securities from $50.00 to $45.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

A number of other analysts also recently issued reports on MGM. Barclays restated an "equal weight" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Jefferies Financial Group lowered their target price on MGM Resorts International from $52.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, January 3rd. Citigroup lifted their price objective on MGM Resorts International from $48.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. BTIG Research downgraded shares of MGM Resorts International from a "buy" rating to a "neutral" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley lowered their target price on shares of MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International currently has an average rating of "Moderate Buy" and an average target price of $50.35.

MGM Resorts International Stock Up 4.6 %

Shares of NYSE MGM traded up $1.32 during trading on Thursday, hitting $30.24. The stock had a trading volume of 5,480,944 shares, compared to its average volume of 4,628,394. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $47.26. The company has a market capitalization of $8.56 billion, a PE ratio of 12.60, a PEG ratio of 0.98 and a beta of 1.96. The firm has a fifty day moving average of $32.01 and a two-hundred day moving average of $34.79. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its 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 return on equity of 21.08% and a net margin of 4.33%. As a group, equities research analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Todd Meinert sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. This represents a 24.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jonathan S. Halkyard bought 10,000 shares of MGM Resorts International stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the acquisition, the chief financial officer now directly owns 75,648 shares in the company, valued at $2,433,596.16. This represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 3.06% of the company's stock.

Institutional Trading of MGM Resorts International

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of MGM Resorts International during the fourth quarter valued at approximately $88,033,000. Eminence Capital LP purchased a new stake in shares of MGM Resorts International in the 4th quarter valued at $72,408,000. AQR Capital Management LLC lifted its holdings in shares of MGM Resorts International by 12,726.8% in the 4th quarter. AQR Capital Management LLC now owns 1,278,965 shares of the company's stock valued at $44,316,000 after buying an additional 1,268,994 shares during the period. Marshall Wace LLP increased its holdings in shares of MGM Resorts International by 50.9% during the 4th quarter. Marshall Wace LLP now owns 3,233,718 shares of the company's stock valued at $112,048,000 after purchasing an additional 1,090,533 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of MGM Resorts International by 22.5% during the 4th quarter. Invesco Ltd. now owns 5,785,343 shares of the company's stock worth $200,462,000 after acquiring an additional 1,063,707 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.