MGM Resorts International (NYSE:MGM - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report issued on Friday.
MGM has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft increased their price target on MGM Resorts International from $50.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, February 14th. Susquehanna raised MGM Resorts International from a "neutral" rating to a "positive" rating and increased their price target for the company from $46.00 to $54.00 in a research report on Thursday, May 2nd. Mizuho increased their price target on MGM Resorts International from $61.00 to $62.00 and gave the company a "buy" rating in a research report on Thursday, May 2nd. Bank Of America (Bofa) raised their target price on MGM Resorts International from $45.00 to $50.00 and gave the company a "neutral" rating in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. raised their target price on MGM Resorts International from $54.00 to $57.00 and gave the company an "overweight" rating in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, MGM Resorts International has an average rating of "Moderate Buy" and a consensus price target of $54.83.
Read Our Latest Stock Analysis on MGM Resorts International
MGM Resorts International Price Performance
MGM traded down $0.28 on Friday, hitting $40.57. 2,033,779 shares of the stock were exchanged, compared to its average volume of 3,832,149. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $51.35. The business has a 50-day moving average of $43.38 and a two-hundred day moving average of $42.37. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. The firm has a market capitalization of $12.73 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 0.90 and a beta of 2.22.
MGM Resorts International (NYSE:MGM - Get Free Report) last issued its earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.56 by $0.18. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The business's quarterly revenue was up 13.2% on a year-over-year basis. Sell-side analysts forecast that MGM Resorts International will post 2.9 EPS for the current fiscal year.
Insider Activity at MGM Resorts International
In other MGM Resorts International 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 value of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares in the company, valued at $261,637,576.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.83% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. CVA Family Office LLC bought a new stake in MGM Resorts International during the fourth quarter valued at about $28,000. Sandy Spring Bank lifted its holdings in MGM Resorts International by 140.8% in the 3rd quarter. Sandy Spring Bank now owns 855 shares of the company's stock worth $31,000 after purchasing an additional 500 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in MGM Resorts International by 510.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company's stock worth $44,000 after purchasing an additional 1,000 shares in the last quarter. Accent Capital Management LLC bought a new position in MGM Resorts International in the 4th quarter worth approximately $45,000. Finally, Mendota Financial Group LLC grew its holdings in MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company's stock valued at $47,000 after buying an additional 266 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors.
About MGM Resorts International
(
Get Free Report)
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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