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

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

A number of other equities research analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their target price on MGM Resorts International from $50.00 to $52.00 and gave the stock a buy rating in a research report on Wednesday, February 14th. Bank Of America (Bofa) raised their price target on MGM Resorts International from $45.00 to $50.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Mizuho began coverage on MGM Resorts International in a report on Tuesday, March 26th. They issued a buy rating and a $61.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on shares of MGM Resorts International from $52.00 to $54.00 and gave the company an overweight rating in a research note on Wednesday, February 14th. Finally, Macquarie restated an outperform rating and set a $58.00 price target on shares of MGM Resorts International in a report on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $54.77.

MGM Resorts International Price Performance

NYSE:MGM traded up $0.17 during midday trading on Thursday, hitting $41.04. 4,379,185 shares of the stock were exchanged, compared to its average volume of 3,597,847. The company has a market capitalization of $12.87 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 1.67 and a beta of 2.22. The company has a current ratio of 1.51, a quick ratio of 1.53 and a debt-to-equity ratio of 1.56. MGM Resorts International has a one year low of $34.12 and a one year high of $51.35. The business has a 50-day moving average price of $43.52 and a two-hundred day moving average price of $42.24.

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

Insider Buying and Selling

In related news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the sale, the director now directly owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

A number of institutional investors have recently made changes to their positions in the stock. CVA Family Office LLC acquired a new stake in MGM Resorts International in the fourth quarter worth $28,000. Sandy Spring Bank lifted its holdings in MGM Resorts International by 140.8% during the third quarter. Sandy Spring Bank now owns 855 shares of the company’s stock worth $31,000 after acquiring an additional 500 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in MGM Resorts International by 510.2% during the third quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after acquiring an additional 1,000 shares in the last quarter. Accent Capital Management LLC acquired a new position in MGM Resorts International in the fourth quarter valued at about $45,000. Finally, Mendota Financial Group LLC increased its holdings 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 acquiring an additional 266 shares in the last quarter. 68.11% of the stock is 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.