MGM Resorts International (MGM) Research Coverage Started at Jefferies Group

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.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. MGM Resorts International had a return on equity of 6.47% and a net margin of 5.44%. equities research analysts expect that MGM Resorts International will post 1.09 earnings per share for the current year.

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.

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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