MGM Resorts International (NYSE:MGM) Stock Rating Upgraded by Argus

MGM Resorts International (NYSE:MGM) was upgraded by stock analysts at Argus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The brokerage currently has a $50.00 price target on the stock. Argus’ price objective indicates a potential upside of 23.82% from the company’s current price.

MGM has been the subject of a number of other research reports. Wells Fargo & Company boosted their price target on MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday. Mizuho increased their price target on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday. Macquarie restated an “outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday. Capital One Financial lifted their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.39.

MGM Resorts International Trading Up 17.5 %

NYSE:MGM opened at $40.38 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The company has a market capitalization of $12.02 billion, a P/E ratio of 14.42, a P/E/G ratio of 2.94 and a beta of 2.20. The stock’s 50 day moving average price is $34.32 and its 200 day moving average price is $36.83. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24.

MGM Resorts International (NYSE:MGM) last released its quarterly 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%. On average, research analysts forecast that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Several hedge funds have recently bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new stake in MGM Resorts International in the third quarter valued at approximately $28,000. Global Trust Asset Management LLC bought a new position in shares of MGM Resorts International during the 4th quarter worth approximately $28,000. Assetmark Inc. increased its holdings in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after acquiring an additional 411 shares during the last quarter. Eastern Bank acquired a new stake in MGM Resorts International during the 3rd quarter valued at $35,000. Finally, Global Retirement Partners LLC lifted its position in MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after acquiring an additional 404 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

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.