MGM Resorts International (NYSE:MGM) Receives Outperform Rating from Macquarie

Macquarie reaffirmed their outperform rating on shares of MGM Resorts International (NYSE:MGM) in a research note published on Thursday morning,Benzinga reports. They currently have a $50.00 price target on the stock.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus upped their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday. Wells Fargo & Company upped their target price on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho upped their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday. Finally, Barclays upped their price objective on shares of MGM Resorts International from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.47.

MGM Resorts International Stock Performance

NYSE MGM opened at $40.38 on Thursday. The stock has a market cap of $12.02 billion, a P/E ratio of 14.42, a PEG ratio of 2.94 and a beta of 2.20. The company’s 50-day simple moving average is $34.32 and its 200 day simple moving average is $36.83. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. As a group, research analysts forecast that MGM Resorts International will post 2.37 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On MGM Resorts International

A number of large investors have recently modified their holdings of the stock. Empower Advisory Group LLC boosted its stake in MGM Resorts International by 4.2% in the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after acquiring an additional 62,997 shares during the last quarter. Goldentree Asset Management LP boosted its stake in MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after acquiring an additional 1,390,599 shares during the last quarter. Miracle Mile Advisors LLC bought a new position in MGM Resorts International in the fourth quarter valued at approximately $2,010,000. Assenagon Asset Management S.A. boosted its stake in MGM Resorts International by 80.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock valued at $12,411,000 after acquiring an additional 159,522 shares during the last quarter. Finally, Zacks Investment Management boosted its stake in MGM Resorts International by 7.8% in the third quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock valued at $15,651,000 after acquiring an additional 29,107 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

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.