Barclays PLC restated their overweight rating on shares of MGM Resorts International (NYSE:MGM) in a report published on Monday, Marketbeat.com reports.

Other equities analysts have also issued research reports about the company. Zacks Investment Research lowered MGM Resorts International from a hold rating to a sell rating in a research note on Friday, July 28th. BidaskClub raised MGM Resorts International from a buy rating to a strong-buy rating in a research note on Tuesday, July 25th. UBS AG lowered MGM Resorts International from a buy rating to a neutral rating and increased their target price for the company from $33.00 to $36.00 in a research note on Tuesday, August 1st. Instinet reissued a buy rating and issued a $40.00 target price on shares of MGM Resorts International in a research note on Monday, July 3rd. Finally, Stifel Nicolaus reissued a buy rating on shares of MGM Resorts International in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the company. MGM Resorts International currently has a consensus rating of Buy and a consensus target price of $35.50.

MGM Resorts International (NYSE MGM) opened at 30.75 on Monday. MGM Resorts International has a 52 week low of $25.15 and a 52 week high of $34.65. The stock has a market cap of $17.69 billion, a PE ratio of 18.21 and a beta of 1.46. The company has a 50-day moving average price of $32.15 and a 200-day moving average price of $31.17. MGM Resorts International also was the recipient of some unusual options trading on Monday. Stock traders acquired 25,657 put options on the stock. This is an increase of approximately 317% compared to the average volume of 6,159 put options.

MGM Resorts International (NYSE:MGM) last released its earnings results on Thursday, July 27th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03. MGM Resorts International had a return on equity of 7.97% and a net margin of 9.26%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the firm posted $0.29 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. Analysts anticipate that MGM Resorts International will post $1.29 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Monday, September 11th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $0.44 annualized dividend and a yield of 1.43%. MGM Resorts International’s payout ratio is currently 26.04%.

MGM Resorts International declared that its Board of Directors has authorized a stock buyback plan on Tuesday, September 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, CEO James Murren sold 57,269 shares of MGM Resorts International stock in a transaction on Monday, July 31st. The stock was sold at an average price of $33.05, for a total value of $1,892,740.45. Following the transaction, the chief executive officer now owns 1,231,611 shares in the company, valued at approximately $40,704,743.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Robert Selwood sold 40,325 shares of MGM Resorts International stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $33.86, for a total value of $1,365,404.50. Following the completion of the transaction, the chief accounting officer now owns 197,993 shares in the company, valued at approximately $6,704,042.98. The disclosure for this sale can be found here. Insiders sold a total of 819,831 shares of company stock valued at $27,686,927 over the last ninety days. Insiders own 12.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of MGM. UBS Asset Management Americas Inc. grew its position in MGM Resorts International by 9.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,138,469 shares of the company’s stock worth $31,194,000 after acquiring an additional 102,486 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in MGM Resorts International by 0.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 34,213 shares of the company’s stock worth $937,000 after acquiring an additional 140 shares during the last quarter. Pacer Advisors Inc. grew its position in MGM Resorts International by 3.4% during the 1st quarter. Pacer Advisors Inc. now owns 9,269 shares of the company’s stock worth $254,000 after acquiring an additional 302 shares during the last quarter. Nordea Investment Management AB grew its position in MGM Resorts International by 28.6% during the 1st quarter. Nordea Investment Management AB now owns 15,018 shares of the company’s stock worth $411,000 after acquiring an additional 3,344 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in MGM Resorts International by 18.0% during the 1st quarter. Prudential Financial Inc. now owns 34,161 shares of the company’s stock worth $936,000 after acquiring an additional 5,200 shares during the last quarter. Institutional investors and hedge funds own 75.17% of the company’s stock.

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.

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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