MGM Resorts International (NYSE:MGM) Given New $57.00 Price Target at JMP Securities

MGM Resorts International (NYSE:MGM) had its price objective decreased by JMP Securities from $59.00 to $57.00 in a research report released on Thursday morning, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other equities analysts also recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of MGM Resorts International from $47.00 to $44.00 and set an equal weight rating for the company in a research note on Friday, July 12th. Wells Fargo & Company lowered their target price on MGM Resorts International from $55.00 to $53.00 and set an overweight rating on the stock in a research note on Thursday. Barclays upped their price target on MGM Resorts International from $55.00 to $56.00 and gave the stock an overweight rating in a research note on Thursday, May 2nd. Mizuho lifted their price objective on shares of MGM Resorts International from $61.00 to $62.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of MGM Resorts International from $54.00 to $57.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International currently has a consensus rating of Moderate Buy and a consensus price target of $54.00.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $35.48 on Thursday. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $48.36. The company has a market cap of $11.13 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 0.77 and a beta of 2.24. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.46. The stock’s 50-day moving average is $42.03 and its two-hundred day moving average is $42.75.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the firm posted $0.59 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. Analysts forecast that MGM Resorts International will post 3 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In related news, Director Alexis Herman sold 4,344 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $41.50, for a total value of $180,276.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of MGM Resorts International stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $40.44, for a total value of $5,633,292.00. Following the transaction, the director now owns 5,859,478 shares in the company, valued at approximately $236,957,290.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $41.50, for a total transaction of $180,276.00. The disclosure for this sale can be found here. Insiders sold a total of 147,988 shares of company stock valued at $5,991,759 in the last ninety days. Corporate insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in MGM Resorts International during the second quarter worth approximately $28,000. EverSource Wealth Advisors LLC boosted its position in MGM Resorts International by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after purchasing an additional 329 shares during the period. UMB Bank n.a. raised its position in MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares during the period. Accent Capital Management LLC acquired a new position in shares of MGM Resorts International during the fourth quarter worth about $45,000. Finally, Mendota Financial Group LLC boosted its position in shares of MGM Resorts International by 36.0% in the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after buying an additional 266 shares during the period. 68.11% of the stock is owned by hedge funds and other 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.