JMP Securities Cuts MGM Resorts International (NYSE:MGM) Price Target to $45.00

MGM Resorts International (NYSE:MGM) had its target price lowered by JMP Securities from $50.00 to $45.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ target price suggests a potential upside of 55.74% from the stock’s current price.

MGM has been the topic of a number of other research reports. BTIG Research cut shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Wedbush restated an “outperform” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Stifel Nicolaus increased their target price on MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Citigroup upped their price target on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley reduced their target price on shares of MGM Resorts International from $37.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.71.

MGM Resorts International Stock Up 1.5 %

Shares of MGM Resorts International stock opened at $28.89 on Thursday. 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 has a 1-year low of $25.30 and a 1-year high of $47.26. The business has a 50-day moving average of $32.12 and a 200-day moving average of $34.93. The company has a market capitalization of $8.18 billion, a PE ratio of 12.04, a P/E/G ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, equities analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 75,648 shares in the company, valued at $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.06% of the stock is owned by insiders.

Institutional Trading of MGM Resorts International

Large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in MGM Resorts International by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company’s stock worth $79,110,000 after acquiring an additional 38,749 shares during the last quarter. Korea Investment CORP boosted its stake in MGM Resorts International by 964.3% in the fourth quarter. Korea Investment CORP now owns 145,287 shares of the company’s stock worth $5,034,000 after purchasing an additional 131,636 shares in the last quarter. ACR Alpine Capital Research LLC grew its holdings in shares of MGM Resorts International by 23.3% during the fourth quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company’s stock worth $5,613,000 after purchasing an additional 30,605 shares during the last quarter. Davis Selected Advisers increased its stake in shares of MGM Resorts International by 4.6% in the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock valued at $690,253,000 after buying an additional 882,417 shares in the last quarter. Finally, Miracle Mile Advisors LLC acquired a new position in MGM Resorts International during the 4th quarter worth about $2,010,000. 68.11% of the stock is owned by institutional investors.

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.