MGM Resorts International (NYSE:MGM) Upgraded to Positive at Susquehanna

Susquehanna upgraded shares of MGM Resorts International (NYSE:MGM) from a neutral rating to a positive rating in a research note published on Thursday, MarketBeat Ratings reports. Susquehanna currently has $54.00 price target on the stock, up from their previous price target of $46.00.

A number of other equities research analysts have also weighed in on the stock. Morgan Stanley boosted their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. Barclays reduced their price objective on MGM Resorts International from $57.00 to $55.00 and set an overweight rating on the stock in a research note on Wednesday, February 14th. JMP Securities reaffirmed a market outperform rating and issued a $57.00 price target on shares of MGM Resorts International in a research note on Wednesday, February 14th. Bank Of America (Bofa) increased their price objective on MGM Resorts International from $45.00 to $50.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of MGM Resorts International from $52.00 to $54.00 and gave the company an overweight rating in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $54.77.

MGM Resorts International Price Performance

MGM Resorts International stock traded up $0.17 during mid-day trading on Thursday, hitting $41.04. 4,379,185 shares of the company traded hands, compared to its average volume of 3,597,847. The stock has a fifty day moving average price of $43.52 and a 200-day moving average price of $42.24. The stock has a market cap of $12.87 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 1.67 and a beta of 2.22. MGM Resorts International has a one year low of $34.12 and a one year high of $51.35. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.53 and a current ratio of 1.51.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 EPS. On average, equities analysts predict that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 325,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the sale, the director now directly owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CVA Family Office LLC purchased a new stake in MGM Resorts International in the fourth quarter worth approximately $28,000. Sandy Spring Bank raised its stake in MGM Resorts International by 140.8% during the 3rd quarter. Sandy Spring Bank now owns 855 shares of the company’s stock worth $31,000 after acquiring an additional 500 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of MGM Resorts International by 510.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock valued at $44,000 after buying an additional 1,000 shares in the last quarter. Accent Capital Management LLC bought a new position in shares of MGM Resorts International in the fourth quarter worth about $45,000. Finally, Mendota Financial Group LLC grew its holdings in MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after buying an additional 266 shares in the last quarter. Institutional investors own 68.11% of the company’s stock.

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.