Jefferies Group assumed coverage on shares of MGM Resorts International (NYSE:MGM) in a research note issued to investors on Thursday, The Fly reports. The firm set a “buy” rating on the stock.
Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus cut shares of MGM Resorts International from a “buy” rating to a “hold” rating and reduced their price target for the company from $38.00 to $33.00 in a report on Wednesday, October 18th. Instinet reiterated a “buy” rating and issued a $40.00 price target on shares of MGM Resorts International in a report on Tuesday, October 3rd. Susquehanna Bancshares reiterated a “neutral” rating and issued a $33.00 price target (down previously from $38.00) on shares of MGM Resorts International in a report on Tuesday, October 3rd. Barclays restated an “overweight” rating on shares of MGM Resorts International in a report on Monday, October 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of MGM Resorts International from $39.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, November 1st. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. MGM Resorts International has a consensus rating of “Buy” and an average target price of $36.79.
MGM Resorts International (NYSE:MGM) traded down $0.47 during trading on Thursday, hitting $36.07. 6,089,837 shares of the stock traded hands, compared to its average volume of 7,100,000. The firm has a market capitalization of $20,420.00, a PE ratio of 35.36, a PEG ratio of 6.57 and a beta of 1.45. MGM Resorts International has a 12 month low of $25.15 and a 12 month high of $36.65. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.02 and a quick ratio of 0.98.
In other news, Director Sean Charland purchased 25,000 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were purchased at an average cost of $22.50 per share, with a total value of $562,500.00. Also, insider Robert Baldwin sold 61,600 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $32.56, for a total transaction of $2,005,696.00. Following the sale, the insider now directly owns 70,049 shares in the company, valued at $2,280,795.44. The disclosure for this sale can be found here. Insiders have sold 96,877 shares of company stock valued at $3,187,002 in the last 90 days. 12.20% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fox Run Management L.L.C. bought a new stake in MGM Resorts International during the fourth quarter worth $604,000. Schwab Charles Investment Management Inc. raised its position in MGM Resorts International by 3.9% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,822,821 shares of the company’s stock worth $60,864,000 after acquiring an additional 67,872 shares in the last quarter. Spirit of America Management Corp NY raised its position in 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 worth $190,000 after acquiring an additional 2,500 shares in the last quarter. National Pension Service raised its position in MGM Resorts International by 3.5% during the fourth quarter. National Pension Service now owns 532,730 shares of the company’s stock worth $17,788,000 after acquiring an additional 17,834 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in MGM Resorts International by 17.5% during the third quarter. Parametric Portfolio Associates LLC now owns 501,098 shares of the company’s stock worth $16,331,000 after acquiring an additional 74,471 shares in the last quarter. 82.96% of the stock is currently owned by hedge funds and other institutional investors.
About MGM Resorts International
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.
