MGM Resorts International (MGM) Receives New Coverage from Analysts at Jefferies Group

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.

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

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.

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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.

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