MGM Resorts International (NYSE:MGM) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of MGM Resorts International (NYSE:MGM) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

MGM has been the topic of a number of other reports. Stifel Nicolaus boosted their price target on shares of MGM Resorts International from $56.00 to $59.00 in a research note on Thursday, August 3rd. JMP Securities restated a market outperform rating and set a $60.00 price target on shares of MGM Resorts International in a research note on Tuesday, July 18th. Barclays dropped their price objective on MGM Resorts International from $64.00 to $62.00 and set an overweight rating for the company in a research note on Thursday, August 3rd. TheStreet lowered MGM Resorts International from a b rating to a c+ rating in a research note on Wednesday, August 2nd. Finally, Susquehanna cut their price target on shares of MGM Resorts International from $51.00 to $48.00 and set a neutral rating on the stock in a research note on Thursday, August 3rd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $58.95.

MGM Resorts International Stock Up 0.6 %

MGM stock opened at $43.47 on Wednesday. The firm has a market cap of $15.25 billion, a PE ratio of 42.20 and a beta of 2.10. MGM Resorts International has a one year low of $29.20 and a one year high of $51.35. The company has a debt-to-equity ratio of 1.38, a quick ratio of 2.00 and a current ratio of 2.04. The firm’s 50 day moving average price is $45.76 and its 200-day moving average price is $43.81.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.53 by $0.06. The business had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.82 billion. MGM Resorts International had a return on equity of 2.10% and a net margin of 2.53%. The company’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 EPS. On average, equities research analysts anticipate that MGM Resorts International will post 2.47 EPS for the current year.

Insider Activity

In related news, Director Daniel J. Taylor sold 4,454 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $45.25, for a total value of $201,543.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Keith A. Meister sold 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $43.79, for a total transaction of $10,947,500.00. Following the completion of the sale, the director now owns 6,423,778 shares in the company, valued at approximately $281,297,238.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Taylor sold 4,454 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $45.25, for a total transaction of $201,543.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 309,454 shares of company stock worth $13,636,494. 2.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MGM Resorts International

Institutional investors and hedge funds have recently bought and sold shares of the stock. PSI Advisors LLC boosted its position in shares of MGM Resorts International by 15.1% in the 2nd quarter. PSI Advisors LLC now owns 1,525 shares of the company’s stock valued at $67,000 after purchasing an additional 200 shares during the period. Invst LLC grew its position in shares of MGM Resorts International by 1.3% during the second quarter. Invst LLC now owns 17,609 shares of the company’s stock worth $773,000 after acquiring an additional 223 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of MGM Resorts International by 2.3% in the 1st quarter. Empirical Finance LLC now owns 10,278 shares of the company’s stock valued at $457,000 after acquiring an additional 232 shares during the period. CENTRAL TRUST Co grew its position in MGM Resorts International by 23.4% during the 1st quarter. CENTRAL TRUST Co now owns 1,319 shares of the company’s stock worth $59,000 after purchasing an additional 250 shares during the last quarter. Finally, Signaturefd LLC increased its stake in MGM Resorts International by 1.9% in the first quarter. Signaturefd LLC now owns 13,730 shares of the company’s stock valued at $610,000 after purchasing an additional 251 shares during the period. 66.46% of the stock is owned by hedge funds and other institutional investors.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.