Jefferies Group began coverage on shares of MGM Resorts International (NYSE:MGM) in a report issued on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $43.00 price objective on the stock.
A number of other equities analysts also recently issued reports on MGM. Barclays reiterated an overweight rating on shares of MGM Resorts International in a research note on Monday, October 2nd. UBS Group downgraded MGM Resorts International from a positive rating to a neutral rating in a research note on Tuesday, October 3rd. Instinet restated a buy rating and issued a $40.00 target price on shares of MGM Resorts International in a research note on Tuesday, October 3rd. Susquehanna Bancshares restated a neutral rating and issued a $33.00 target price (down previously from $38.00) on shares of MGM Resorts International in a research note on Tuesday, October 3rd. Finally, JPMorgan Chase & Co. boosted their target price on MGM Resorts International from $39.00 to $40.00 and gave the stock an overweight rating in a research note on Wednesday, November 1st. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $37.20.
MGM Resorts International (NYSE MGM) traded up $0.28 during mid-day trading on Thursday, reaching $36.35. The company’s stock had a trading volume of 5,990,000 shares, compared to its average volume of 5,244,287. The firm has a market cap of $20,579.12, a P/E ratio of 35.64, a P/E/G ratio of 6.32 and a beta of 1.45. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.02 and a quick ratio of 0.98. MGM Resorts International has a fifty-two week low of $25.15 and a fifty-two week high of $36.68.
In related news, insider Robert Baldwin sold 61,600 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $32.56, for a total value of $2,005,696.00. Following the transaction, the insider now owns 70,049 shares in the company, valued at $2,280,795.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sean Charland acquired 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was purchased at an average price of $22.50 per share, for a total transaction of $562,500.00. Insiders sold a total of 96,877 shares of company stock worth $3,187,002 in the last 90 days. Company insiders own 12.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Spirit of America Management Corp NY purchased a new position in MGM Resorts International in the third quarter valued at approximately $104,000. Sun Life Financial INC purchased a new position in MGM Resorts International in the third quarter valued at approximately $124,000. Toronto Dominion Bank lifted its stake in MGM Resorts International by 12.4% in the second quarter. Toronto Dominion Bank now owns 5,644 shares of the company’s stock valued at $177,000 after purchasing an additional 624 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in MGM Resorts International in the third quarter valued at approximately $197,000. Finally, Colony Group LLC purchased a new position in MGM Resorts International in the second quarter valued at approximately $203,000. Institutional investors and hedge funds own 82.96% of the company’s stock.
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MGM Resorts International Company Profile
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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