Argus upgraded shares of MGM Resorts International (NYSE:MGM) from a hold rating to a buy rating in a report released on Thursday morning.

MGM has been the subject of a number of other reports. Goldman Sachs Group Inc. reiterated a buy rating on shares of MGM Resorts International in a report on Wednesday. Credit Agricole SA reiterated an overweight rating and set a $29.00 price target on shares of MGM Resorts International in a report on Tuesday, September 20th. Stifel Nicolaus reiterated a buy rating and set a $20.00 price target on shares of MGM Resorts International in a report on Thursday, September 15th. Deutsche Bank AG restated a buy rating and issued a $29.00 target price on shares of MGM Resorts International in a report on Monday, June 27th. Finally, Susquehanna restated a positive rating and issued a $30.00 target price on shares of MGM Resorts International in a report on Thursday, September 8th. One equities research analyst has rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of C$27.94.

Shares of MGM Resorts International (NYSE:MGM) traded down 1.42% during midday trading on Thursday, hitting $26.42. 1,388,851 shares of the stock were exchanged. The firm’s market cap is $14.94 billion. MGM Resorts International has a 12-month low of $16.18 and a 12-month high of $27.04. The firm has a 50 day moving average of $25.04 and a 200 day moving average of $23.44.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by $0.02. The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.33 billion. MGM Resorts International had a positive return on equity of 3.65% and a negative net margin of 1.90%. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 earnings per share. Equities analysts forecast that MGM Resorts International will post $0.67 EPS for the current fiscal year.

In related news, EVP John Mcmanus sold 12,363 shares of the company’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of C$24.44, for a total value of C$302,151.72. Following the sale, the executive vice president now owns 40,071 shares in the company, valued at approximately C$979,335.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alexis Herman sold 2,391 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of C$24.66, for a total value of C$58,962.06. Following the completion of the sale, the director now owns 24,511 shares in the company, valued at approximately C$604,441.26. The disclosure for this sale can be found here. 16.90% of the stock is owned by corporate insiders.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in MGM Resorts International by 7.4% in the second quarter. Vanguard Group Inc. now owns 34,658,063 shares of the company’s stock valued at $784,311,000 after buying an additional 2,386,562 shares during the last quarter. Capital World Investors increased its stake in MGM Resorts International by 9.7% in the second quarter. Capital World Investors now owns 24,427,302 shares of the company’s stock valued at $552,790,000 after buying an additional 2,150,087 shares during the last quarter. Canyon Capital Advisors LLC increased its stake in MGM Resorts International by 2.2% in the second quarter. Canyon Capital Advisors LLC now owns 17,411,736 shares of the company’s stock valued at $394,028,000 after buying an additional 369,432 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in MGM Resorts International by 2.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,310,824 shares of the company’s stock valued at $255,964,000 after buying an additional 303,127 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in MGM Resorts International by 11.4% in the second quarter. TIAA CREF Investment Management LLC now owns 8,154,880 shares of the company’s stock valued at $184,545,000 after buying an additional 835,717 shares during the last quarter. Institutional investors own 71.23% of the company’s stock.

About MGM Resorts International

MGM Resorts International is a holding company. The Company owns and operates casino resorts. It operates in two segments: wholly owned domestic resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail and other resort amenities. It has additional business activities, including its investments in unconsolidated affiliates, and other corporate and management operations.

5 Day Chart for NYSE:MGM

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