MGM Resorts International (NYSE:MGM)‘s stock had its “buy” rating reissued by equities researchers at Stifel Nicolaus in a research note issued to investors on Thursday. They currently have a $20.00 target price on the stock.

Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. JPMorgan Chase & Co. reissued a “buy” rating on shares of MGM Resorts International in a research note on Friday, June 17th. Buckingham Research initiated coverage on shares of MGM Resorts International in a research note on Thursday, August 11th. They issued a “buy” rating and a $31.00 target price on the stock. Deutsche Bank AG reissued a “buy” rating and issued a $29.00 target price on shares of MGM Resorts International in a research note on Friday, June 17th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of MGM Resorts International in a research note on Friday, June 17th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. MGM Resorts International currently has a consensus rating of “Buy” and an average target price of C$27.63.

Shares of MGM Resorts International (NYSE:MGM) opened at 25.44 on Thursday. The company’s market cap is $14.39 billion. The company’s 50-day moving average is $24.34 and its 200 day moving average is $22.82. MGM Resorts International has a 1-year low of $16.18 and a 1-year high of $25.72.

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

In other MGM Resorts International news, major shareholder Corp Tracinda sold 4,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of C$100,000,000.00, for a total transaction of C$400,000,000,000,000.00. Following the completion of the transaction, the insider now directly owns 87,173,744 shares of the company’s stock, valued at approximately C$8,717,374,400,000,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Mcmanus sold 12,363 shares of the firm’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 transaction of C$302,151.72. Following the transaction, the executive vice president now directly owns 40,071 shares of the company’s stock, valued at C$979,335.24. The disclosure for this sale can be found here. 16.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the company. Nomura Holdings Inc. acquired a new position in MGM Resorts International during the second quarter worth about $339,000. Schwab Charles Investment Management Inc. raised its position in MGM Resorts International by 4.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 718,054 shares of the company’s stock worth $16,250,000 after buying an additional 28,536 shares in the last quarter. Amalgamated Bank raised its position in MGM Resorts International by 23.9% in the second quarter. Amalgamated Bank now owns 16,219 shares of the company’s stock worth $404,000 after buying an additional 3,128 shares in the last quarter. Legal & General Group Plc raised its position in MGM Resorts International by 1.9% in the second quarter. Legal & General Group Plc now owns 1,888,439 shares of the company’s stock worth $42,733,000 after buying an additional 35,320 shares in the last quarter. Finally, GLG LLC raised its position in MGM Resorts International by 1.7% in the second quarter. GLG LLC now owns 28,150 shares of the company’s stock worth $637,000 after buying an additional 472 shares in the last quarter. 71.24% of the stock is owned by institutional investors.

MGM Resorts International Company Profile

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.

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