UBS Upgrades MGM Resorts International (MGM) to Positive

MGM Resorts International (NYSE:MGM) was upgraded by analysts at UBS from a “neutral” rating to a “positive” rating in a research note issued on Monday, The Fly reports.

A number of other brokerages have also issued reports on MGM. ValuEngine upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating in a research note on Wednesday, April 18th. Jefferies Group assumed coverage on shares of MGM Resorts International in a research note on Thursday, January 18th. They issued a “buy” rating and a $43.00 price target for the company. Telsey Advisory Group assumed coverage on shares of MGM Resorts International in a research note on Wednesday, March 14th. They issued a “market perform” rating and a $39.00 price target for the company. Zacks Investment Research upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Monday, February 5th. Finally, Barclays lifted their price target on shares of MGM Resorts International from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. MGM Resorts International presently has a consensus rating of “Buy” and a consensus price target of $38.53.

Shares of NYSE:MGM opened at $35.44 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.77 and a quick ratio of 0.73. The firm has a market capitalization of $20,072.06, a P/E ratio of 34.75, a P/E/G ratio of 1.89 and a beta of 1.40. MGM Resorts International has a 12-month low of $28.20 and a 12-month high of $38.41.

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

In other news, Director William Warwick Grounds purchased 1,000 shares of MGM Resorts International stock in a transaction dated Wednesday, March 14th. The stock was bought at an average price of $35.50 per share, with a total value of $35,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel D’arrigo sold 36,366 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $34.78, for a total transaction of $1,264,809.48. Following the transaction, the chief financial officer now directly owns 242,799 shares of the company’s stock, valued at approximately $8,444,549.22. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 46,000 shares of company stock valued at $49,000 and have sold 142,646 shares valued at $5,104,710. 0.43% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in MGM. Cerebellum GP LLC acquired a new position in shares of MGM Resorts International during the fourth quarter valued at $126,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of MGM Resorts International by 88.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,945 shares of the company’s stock valued at $165,000 after acquiring an additional 2,318 shares during the period. Spirit of America Management Corp NY boosted its holdings in shares of MGM Resorts International by 78.1% during the fourth quarter. Spirit of America Management Corp NY now owns 5,700 shares of the company’s stock valued at $190,000 after acquiring an additional 2,500 shares during the period. NuWave Investment Management LLC acquired a new position in shares of MGM Resorts International during the fourth quarter valued at $197,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of MGM Resorts International during the fourth quarter valued at $200,000. 82.58% of the stock is owned by institutional investors.

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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.

The Fly

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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