MGM Resorts International Target of Unusually High Options Trading (NYSE:MGM)

MGM Resorts International (NYSE:MGM) was the target of some unusual options trading on Monday. Traders acquired 13,190 call options on the company. This is an increase of approximately 143% compared to the average daily volume of 5,420 call options.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “underweight” rating on shares of MGM Resorts International in a research note on Wednesday, July 22nd. Jefferies Financial Group reissued a “hold” rating on shares of MGM Resorts International in a report on Thursday, July 2nd. Citigroup raised their price objective on shares of MGM Resorts International from $40.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Weiss Ratings upgraded shares of MGM Resorts International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company raised MGM Resorts International from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $33.00 to $48.30 in a research note on Tuesday, July 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, MGM Resorts International has an average rating of “Moderate Buy” and a consensus target price of $53.25.

Institutional Trading of MGM Resorts International

Institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new position in shares of MGM Resorts International in the first quarter worth approximately $30,000. Optiver Holding B.V. purchased a new stake in MGM Resorts International during the 1st quarter valued at $35,000. Fiduciary Financial Advisors bought a new stake in MGM Resorts International in the 2nd quarter worth $48,000. Global Retirement Partners LLC bought a new position in shares of MGM Resorts International during the second quarter valued at about $53,000. Finally, Freestone Grove Partners LP bought a new stake in shares of MGM Resorts International in the second quarter worth about $62,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Up 1.2%

NYSE MGM traded up $0.45 during trading on Monday, hitting $38.26. 641,185 shares of the company’s stock traded hands, compared to its average volume of 4,143,828. The stock has a fifty day moving average of $43.39 and a two-hundred day moving average of $41.77. MGM Resorts International has a 12-month low of $29.18 and a 12-month high of $51.59. The firm has a market cap of $9.63 billion, a P/E ratio of 23.18, a PEG ratio of 1.93 and a beta of 1.28. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.34 and a quick ratio of 1.30.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.03. The company had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.42 billion. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%.MGM Resorts International’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 EPS. As a group, sell-side analysts expect that MGM Resorts International will post 1.96 EPS for the current year.

About MGM Resorts International

MGM Resorts International is a global hospitality and entertainment company that owns and operates destination resorts, casinos, hotels, restaurants, convention facilities and live-entertainment venues. Its properties offer casino gaming, hotel accommodations, dining, nightlife, retail, spa services, sporting events and other leisure activities.

The company operates a portfolio of resorts in Las Vegas and other U.S. markets, including properties associated with brands such as MGM Grand, Bellagio, ARIA, Mandalay Bay, Park MGM, New York-New York and MGM National Harbor.