MGM Resorts International's (MGM) "Market Perform" Rating Reaffirmed at JMP Securities

MGM Resorts International (NYSE:MGM - Get Free Report)'s stock had its "market perform" rating restated by research analysts at JMP Securities in a report released on Thursday,Benzinga reports.

Several other brokerages have also weighed in on MGM. Citizens Jmp lowered MGM Resorts International from an "outperform" rating to a "market perform" rating in a report on Thursday. Susquehanna lifted their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a "positive" rating in a research note on Thursday, May 1st. Barclays increased their price objective on shares of MGM Resorts International from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Morgan Stanley decreased 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 research report on Wednesday, April 16th. Finally, Truist Financial dropped their price target on shares of MGM Resorts International from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, MGM Resorts International has a consensus rating of "Moderate Buy" and a consensus price target of $48.29.

MGM Resorts International Stock Performance

MGM stock traded down $0.07 on Thursday, reaching $33.81. 671,299 shares of the company were exchanged, compared to its average volume of 5,540,464. The firm has a market capitalization of $9.20 billion, a PE ratio of 15.08, a PEG ratio of 2.36 and a beta of 1.76. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $47.26. The stock's fifty day moving average price is $32.29 and its 200 day moving average price is $32.88. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.31 and a quick ratio of 1.26.

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

MGM Resorts International announced that its Board of Directors has authorized a share repurchase plan on Wednesday, April 30th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 22.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other MGM Resorts International news, Director Daniel J. Taylor sold 5,261 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $34.93, for a total transaction of $183,766.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Corey Ian Sanders sold 40,000 shares of MGM Resorts International stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $34.43, for a total transaction of $1,377,200.00. Following the sale, the chief operating officer now owns 281,530 shares of the company's stock, valued at approximately $9,693,077.90. This represents a 12.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 105,261 shares of company stock worth $3,486,367 in the last quarter. Insiders own 3.06% of the company's stock.

Institutional Trading of MGM Resorts International

Several institutional investors and hedge funds have recently made changes to their positions in MGM. Assetmark Inc. increased its holdings in MGM Resorts International by 104.1% in 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 last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of MGM Resorts International in the 4th quarter valued at about $28,000. Golden State Wealth Management LLC raised its position in shares of MGM Resorts International by 83.5% in the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company's stock valued at $30,000 after acquiring an additional 455 shares during the period. True Wealth Design LLC bought a new position in MGM Resorts International during the 4th quarter worth approximately $33,000. Finally, CX Institutional bought a new position in MGM Resorts International during the 1st quarter worth approximately $36,000. 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.

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