MGM Resorts International (NYSE:MGM) upgraded to buy by StockNews.com
Other research analysts have also recently published research reports on the company. Bank of America cut its price target on MGM Resorts International from $55.00 to $50.00 and set a “neutral” rating on the stock in a Monday, April 18 research note. Stifel Nicolaus raised his price target on MGM Resorts International from $53.00 to $55.00 and gave the stock a “holding” rating in a Thursday, February 10 research report. Citigroup assumed coverage of MGM Resorts International in a research report on Thursday, February 10. They set a “buy” rating and a target price of $57.00 on the stock. TheStreet downgraded MGM Resorts International from a “b-” rating to a “c+” rating in a Tuesday, March 8 research report. Finally, Credit Suisse Group raised its price target on MGM Resorts International from $74.00 to $76.00 and gave the stock an “outperform” rating in a Thursday, Feb. 10 research report. Seven equity research analysts gave the stock a hold rating and nine gave the stock a buy rating. Based on data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Buy” and an average target price of $54.06.
MGM Resorts International Shares traded at $0.65 during midday trading Thursday, hitting $33.65. The stock recorded a trading volume of 8,025,773 shares, compared to an average volume of 5,453,217 shares. MGM Resorts International has a 12-month low of $32.37 and a 12-month high of $51.17. The stock has a market capitalization of $14.34 billion, a PE ratio of 10.93 and a beta of 2.18. The company has a debt ratio of 1.06, a quick ratio of 1.23 and a current ratio of 1.25. The stock’s 50-day simple moving average is $40.16 and its 200-day simple moving average is $42.42.
MGM Resorts International (NYSE: MGM – Get a rating) last released its results on Monday, May 2. The company reported earnings per share of $0.01 for the quarter, beating analyst consensus estimates of ($0.09) by $0.10. MGM Resorts International achieved a return on equity of 0.81% and a net margin of 14.40%. During the same period of the previous year, the company achieved EPS of ($0.68). Stock analysts predict MGM Resorts International will post 0.76 earnings per share for the current fiscal year.
In other news, Director Alexis Hermann sold 3,250 shares of the company in a trade on Wednesday, February 23. The shares were sold at an average price of $43.62, for a total value of $141,765.00. The transaction was disclosed in a document filed with the SEC, accessible via the SEC website. Also, CEO Guillaume Corcorne sold 10,000 shares of the company in a trade on Wednesday, April 20. The stock was sold at an average price of $43.00, for a total transaction of $430,000.00. Following completion of the transaction, the CEO now directly owns 132,603 shares of the company, valued at $5,701,929. Disclosure of this sale can be found here. Insiders sold 13,350 shares of the company valued at $576,165 in the past 90 days. 2.13% of the shares are currently held by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Chilton Capital Management LLC purchased a new stake in MGM Resorts International in the fourth quarter for $25,000. UMB Bank NA MO bought a new stake in MGM Resorts International in the fourth quarter worth $29,000. Capital Advisory Group Advisory Services LLC purchased a new stake in MGM Resorts International in the first quarter valued at $29,000. First Horizon Advisors Inc. increased its stake in MGM Resorts International to 715.4% in the first quarter. First Horizon Advisors Inc. now owns 742 shares of the company worth $31,000 after purchasing an additional 651 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC increased its stake in MGM Resorts International by 280.0% during the first quarter. GPS Wealth Strategies Group LLC now owns 760 shares of the company valued at $32,000 after acquiring an additional 560 shares during the period. 85.76% of the shares are currently held by institutional investors and hedge funds.
MGM Resorts International Company Profile (Get a rating)
MGM Resorts International, through its subsidiaries, owns and operates casinos, hotels and entertainment centers in the United States and Macau. The Company operates through three segments: Las Vegas Strip Resorts, Regional Operations and MGM China. Its casino complexes offer gaming, hotels, conventions, restaurants, entertainment, retail and other resort amenities.
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