JMP Securities Cuts MGM Resorts International (NYSE:MGM) Price Target to $50.00

MGM Resorts International (NYSE:MGM) had its price target trimmed by JMP Securities from $54.00 to $50.00 in a research note published on Monday,Benzinga reports. The firm currently has a market outperform rating on the stock.

Other equities research analysts have also issued reports about the company. Macquarie reduced their price objective on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Morgan Stanley raised their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Mizuho cut their price objective on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company decreased their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Finally, Susquehanna lifted their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.85.

MGM Resorts International Trading Down 0.5 %

MGM Resorts International stock opened at $37.37 on Monday. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24. The company has a market cap of $11.13 billion, a P/E ratio of 13.27, a P/E/G ratio of 2.74 and a beta of 2.23. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The business has a 50-day simple moving average of $38.68 and a two-hundred day simple moving average of $39.67.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The business had revenue of $4.18 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts predict that MGM Resorts International will post 2.5 EPS for the current year.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction on Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the transaction, the director now directly owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Several large investors have recently added to or reduced their stakes in MGM. Marshall Wace LLP increased its position in MGM Resorts International by 174.8% during the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after acquiring an additional 706,159 shares during the last quarter. Maverick Capital Ltd. purchased a new position in shares of MGM Resorts International during the second quarter valued at approximately $1,211,000. Empower Advisory Group LLC grew its stake in shares of MGM Resorts International by 4.2% during the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after buying an additional 62,997 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of MGM Resorts International in the second quarter worth approximately $3,314,000. Finally, Boston Partners lifted its stake in shares of MGM Resorts International by 12.6% during the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock worth $286,933,000 after acquiring an additional 684,676 shares during the last quarter. 68.11% of the stock is owned by institutional investors.

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.