MGM Resorts International (NYSE:MGM) Upgraded at Susquehanna

Susquehanna upgraded shares of MGM Resorts International (NYSE:MGM) from a neutral rating to a positive rating in a report issued on Thursday morning, Marketbeat.com reports. Susquehanna currently has $54.00 target price on the stock, up from their previous target price of $46.00.

MGM has been the subject of several other reports. Bank Of America (Bofa) increased their price objective on MGM Resorts International from $45.00 to $50.00 and gave the stock a neutral rating in a research report on Wednesday, February 14th. Morgan Stanley increased their price objective on MGM Resorts International from $45.00 to $46.00 and gave the stock an equal weight rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. increased their price objective on MGM Resorts International from $52.00 to $54.00 and gave the stock an overweight rating in a research report on Wednesday, February 14th. Mizuho initiated coverage on MGM Resorts International in a research report on Tuesday, March 26th. They issued a buy rating and a $61.00 price objective for the company. Finally, JMP Securities reiterated a market outperform rating and issued a $57.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $54.77.

MGM Resorts International Price Performance

NYSE:MGM opened at $41.04 on Thursday. MGM Resorts International has a one year low of $34.12 and a one year high of $51.35. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.53 and a current ratio of 1.51. The stock has a market cap of $12.87 billion, a PE ratio of 15.78, a P/E/G ratio of 1.68 and a beta of 2.22. The stock has a 50 day moving average price of $43.52 and a 200 day moving average price of $42.28.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.56 by $0.18. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter last year, the firm earned $0.44 earnings per share. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. Equities research analysts expect that MGM Resorts International will post 2.76 EPS for the current fiscal year.

Insider Activity

In other news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the transaction, the director now directly owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

Institutional investors and hedge funds have recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in MGM Resorts International by 28.7% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 91,456 shares of the company’s stock valued at $3,362,000 after buying an additional 20,400 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth about $342,000. Raymond James & Associates lifted its stake in MGM Resorts International by 60.8% during the third quarter. Raymond James & Associates now owns 322,520 shares of the company’s stock worth $11,856,000 after purchasing an additional 121,947 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in MGM Resorts International by 42.9% in the third quarter. Stratos Wealth Partners LTD. now owns 27,461 shares of the company’s stock valued at $1,009,000 after purchasing an additional 8,244 shares in the last quarter. Finally, Independent Advisor Alliance increased its stake in MGM Resorts International by 9.4% in the third quarter. Independent Advisor Alliance now owns 15,653 shares of the company’s stock valued at $575,000 after purchasing an additional 1,349 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. 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.