MGM Resorts International (MGM) Lifted to Buy at ValuEngine

ValuEngine upgraded shares of MGM Resorts International (NYSE:MGM) from a hold rating to a buy rating in a research note published on Wednesday morning.

MGM has been the topic of a number of other research reports. Zacks Investment Research downgraded MGM Resorts International from a buy rating to a hold rating in a research note on Friday, February 23rd. Jefferies Group started coverage on MGM Resorts International in a research note on Thursday, January 18th. They issued a buy rating and a $43.00 price objective on the stock. JPMorgan Chase reissued an overweight rating and issued a $44.00 price objective (up previously from $41.00) on shares of MGM Resorts International in a research note on Tuesday, January 9th. Bank of America boosted their target price on MGM Resorts International from $38.00 to $39.00 and gave the stock a buy rating in a research report on Wednesday, February 21st. Finally, Telsey Advisory Group began coverage on MGM Resorts International in a research report on Wednesday, March 14th. They set a market perform rating and a $39.00 target price on the stock. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $38.53.

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MGM opened at $35.44 on Wednesday. MGM Resorts International has a one year low of $28.20 and a one year high of $38.41. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.73 and a current ratio of 0.77. The firm has a market capitalization of $20,140.03, a PE ratio of 34.75, a PEG ratio of 1.90 and a beta of 1.40.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.04. MGM Resorts International had a return on equity of 5.78% and a net margin of 17.92%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the previous year, the business earned $0.11 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. research analysts forecast that MGM Resorts International will post 1.41 EPS for the current year.

In other news, President William Hornbuckle sold 60,000 shares of MGM Resorts International stock in a transaction on Friday, March 9th. The stock was sold at an average price of $36.36, for a total transaction of $2,181,600.00. Following the transaction, the president now owns 26,289 shares in the company, valued at $955,868.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel J. Taylor sold 12,536 shares of MGM Resorts International stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $34.67, for a total value of $434,623.12. The disclosure for this sale can be found here. In the last quarter, insiders have bought 46,000 shares of company stock worth $49,000 and have sold 142,646 shares worth $5,104,710. Insiders own 12.20% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of MGM Resorts International by 19.9% during the fourth quarter. BlackRock Inc. now owns 35,609,163 shares of the company’s stock valued at $1,188,991,000 after buying an additional 5,897,782 shares in the last quarter. Maverick Capital Ltd. grew its holdings in shares of MGM Resorts International by 26.4% during the fourth quarter. Maverick Capital Ltd. now owns 8,867,800 shares of the company’s stock valued at $296,096,000 after buying an additional 1,852,880 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of MGM Resorts International by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 5,387,536 shares of the company’s stock valued at $179,521,000 after buying an additional 144,373 shares in the last quarter. Nicholas Investment Partners LP grew its holdings in shares of MGM Resorts International by 22.7% during the fourth quarter. Nicholas Investment Partners LP now owns 3,452,294 shares of the company’s stock valued at $115,272,000 after buying an additional 639,662 shares in the last quarter. Finally, Gates Capital Management Inc. grew its holdings in shares of MGM Resorts International by 10.6% during the fourth quarter. Gates Capital Management Inc. now owns 3,427,192 shares of the company’s stock valued at $114,434,000 after buying an additional 327,415 shares in the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.

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About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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