MGM Resorts International (NYSE:MGM) Now Covered by The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of MGM Resorts International (NYSE:MGM - Free Report) in a report published on Monday, Marketbeat Ratings reports. The brokerage issued a sell rating and a $34.00 target price on the stock.

A number of other equities analysts have also recently issued reports on the company. Macquarie dropped their price objective on MGM Resorts International from $50.00 to $48.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. JPMorgan Chase & Co. started coverage on MGM Resorts International in a report on Monday, June 23rd. They set a "neutral" rating and a $38.00 price objective on the stock. Susquehanna upped their target price on MGM Resorts International from $45.00 to $50.00 and gave the stock a "positive" rating in a report on Thursday, May 1st. Barclays upped their price objective on shares of MGM Resorts International from $41.00 to $43.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus decreased their price objective on MGM Resorts International from $50.00 to $44.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $47.24.

MGM Resorts International Trading Down 1.5%

MGM traded down $0.55 during trading hours on Monday, reaching $37.04. 5,116,791 shares of the company's stock traded hands, compared to its average volume of 4,945,605. The firm has a 50-day moving average price of $33.11 and a 200 day moving average price of $32.86. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $47.26. The company has a quick ratio of 1.26, a current ratio of 1.31 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $10.08 billion, a PE ratio of 16.54, a PEG ratio of 2.59 and a beta of 1.76.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.19. MGM Resorts International had a return on equity of 20.64% and a net margin of 3.95%. The company had revenue of $4.28 billion during the quarter, compared to analysts' expectations of $4.29 billion. During the same quarter in the previous year, the business earned $0.74 EPS. MGM Resorts International's revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

MGM Resorts International declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 30th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 22.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Activity at MGM Resorts International

In other news, Director Daniel J. Taylor sold 5,261 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $34.93, for a total transaction of $183,766.73. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Keith A. Meister sold 60,000 shares of MGM Resorts International stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $32.09, for a total value of $1,925,400.00. Following the sale, the director directly owned 5,627,478 shares of the company's stock, valued at approximately $180,585,769.02. This represents a 1.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 105,261 shares of company stock valued at $3,486,367 in the last ninety days. Corporate insiders own 3.06% of the company's stock.

Institutional Investors Weigh In On MGM Resorts International

A number of large investors have recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its stake in MGM Resorts International by 56.4% during the 4th quarter. Jones Financial Companies Lllp now owns 14,616 shares of the company's stock valued at $506,000 after acquiring an additional 5,272 shares during the period. SBI Securities Co. Ltd. acquired a new position in MGM Resorts International during the fourth quarter valued at $57,000. Charles Schwab Investment Management Inc. lifted its position in MGM Resorts International by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company's stock valued at $79,110,000 after purchasing an additional 38,749 shares during the period. Assetmark Inc. lifted its position in MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company's stock valued at $28,000 after purchasing an additional 411 shares during the period. Finally, Atria Investments Inc lifted its position in MGM Resorts International by 7.2% during the fourth quarter. Atria Investments Inc now owns 39,909 shares of the company's stock valued at $1,383,000 after purchasing an additional 2,671 shares during the period. Hedge funds and other 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.