MGM Resorts International (NYSE:MGM) Earns Buy Rating from Analysts at BTIG Research

Equities research analysts at BTIG Research started coverage on shares of MGM Resorts International (NYSE:MGM) in a research note issued to investors on Wednesday, Briefing.com reports. The firm set a “buy” rating and a $52.00 price target on the stock. BTIG Research’s price target points to a potential upside of 22.84% from the stock’s previous close.

Several other research firms also recently issued reports on MGM. Barclays upped their price objective on shares of MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. upped their target price on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Susquehanna upgraded shares of MGM Resorts International from a “neutral” rating to a “positive” rating and upped their target price for the company from $46.00 to $54.00 in a research note on Thursday, May 2nd. JMP Securities increased their price objective on shares of MGM Resorts International from $57.00 to $58.00 and gave the company a “market outperform” rating in a research note on Monday, May 6th. Finally, StockNews.com cut shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. Three investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.66.

MGM Resorts International Price Performance

NYSE MGM opened at $42.33 on Wednesday. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56. The company has a fifty day simple moving average of $40.87 and a 200 day simple moving average of $42.87. The company has a market cap of $13.28 billion, a P/E ratio of 16.28, a P/E/G ratio of 0.93 and a beta of 2.24. MGM Resorts International has a 1 year low of $34.12 and a 1 year high of $51.35.

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 the consensus estimate of $0.56 by $0.18. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. MGM Resorts International’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. On average, sell-side analysts predict that MGM Resorts International will post 3.02 EPS for the current year.

Insider Activity

In related news, Director Daniel J. Taylor sold 4,344 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $41.02, for a total transaction of $178,190.88. Following the transaction, the director now owns 5,250 shares in the company, valued at approximately $215,355. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $40.44, for a total value of $5,633,292.00. Following the transaction, the director now directly owns 5,859,478 shares in the company, valued at approximately $236,957,290.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Taylor sold 4,344 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $41.02, for a total value of $178,190.88. Following the completion of the transaction, the director now owns 5,250 shares in the company, valued at $215,355. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,988 shares of company stock worth $5,991,759. 2.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Texas Permanent School Fund Corp boosted its position in MGM Resorts International by 0.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock valued at $2,667,000 after buying an additional 245 shares during the last quarter. Regatta Capital Group LLC boosted its position in shares of MGM Resorts International by 1.8% in the 4th quarter. Regatta Capital Group LLC now owns 13,753 shares of the company’s stock worth $614,000 after purchasing an additional 247 shares during the last quarter. Mendota Financial Group LLC boosted its position in shares of MGM Resorts International by 36.0% in the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after purchasing an additional 266 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of MGM Resorts International by 8.2% in the 1st quarter. Lindbrook Capital LLC now owns 3,550 shares of the company’s stock worth $168,000 after purchasing an additional 268 shares during the last quarter. Finally, Sandy Spring Bank boosted its position in shares of MGM Resorts International by 33.7% in the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after purchasing an additional 288 shares during the last quarter. 68.11% of the stock is currently owned by 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.