Wall Street Zen Upgrades MGM Resorts International (NYSE:MGM) to "Hold"

MGM Resorts International (NYSE:MGM - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Thursday.

Other equities analysts also recently issued research reports about the stock. Susquehanna Bancshares increased their price target on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. 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 research report on Wednesday, April 16th. JMP Securities dropped their target price on shares of MGM Resorts International from $50.00 to $45.00 and set a "market outperform" rating for the company in a report on Thursday, April 17th. BTIG Research lowered MGM Resorts International from a "buy" rating to a "neutral" rating in a research note on Monday, February 3rd. Finally, Leerink Partners cut MGM Resorts International to a "market perform" rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $48.94.

MGM Resorts International Stock Performance

Shares of MGM stock traded down $0.40 during trading hours on Thursday, reaching $30.97. 1,563,969 shares of the company's stock were exchanged, compared to its average volume of 4,749,851. The company has a market cap of $8.43 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 0.98 and a beta of 1.78. The company's 50 day moving average is $30.97 and its two-hundred day moving average is $33.70. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $47.26. 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 quarterly earnings data on Wednesday, April 30th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.19. The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.29 billion. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. MGM Resorts International's quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 earnings per share. Equities research analysts anticipate that MGM Resorts International will post 2.21 EPS for the current fiscal year.

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

Insider Transactions at MGM Resorts International

In related news, Director Daniel J. Taylor sold 5,261 shares of MGM Resorts International stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $34.93, for a total value of $183,766.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the company's stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the purchase, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at $2,433,596.16. The trade was a 15.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.06% of the company's stock.

Institutional Trading of MGM Resorts International

A number of institutional investors have recently modified their holdings of MGM. Ilmarinen Mutual Pension Insurance Co acquired a new position in MGM Resorts International during the first quarter valued at approximately $1,037,000. Plato Investment Management Ltd purchased a new position in shares of MGM Resorts International in the 1st quarter valued at $625,000. Bayforest Capital Ltd purchased a new position in shares of MGM Resorts International in the 1st quarter valued at $43,000. SCS Capital Management LLC acquired a new position in shares of MGM Resorts International during the 1st quarter valued at $325,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in MGM Resorts International by 0.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,985,513 shares of the company's stock worth $58,851,000 after purchasing an additional 5,407 shares during the period. Hedge funds and other institutional investors own 68.11% of the company's stock.

About MGM Resorts International

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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