Bank of America restated their buy rating on shares of MGM Resorts International (NYSE:MGM) in a research note issued to investors on Tuesday morning. Bank of America currently has a $30.00 price objective on the stock.

A number of other research analysts have also recently weighed in on MGM. Nomura reduced their price target on shares of MGM Resorts International from $40.00 to $39.00 and set a buy rating on the stock in a research report on Monday, July 9th. Morgan Stanley reduced their price target on shares of MGM Resorts International from $38.00 to $34.00 and set a buy rating on the stock in a research report on Friday, August 3rd. Jefferies Financial Group reaffirmed a buy rating on shares of MGM Resorts International in a research report on Wednesday, August 1st. Stifel Nicolaus reaffirmed a hold rating and set a $33.00 price target (down from $37.00) on shares of MGM Resorts International in a research report on Friday, August 3rd. Finally, Zacks Investment Research raised shares of MGM Resorts International from a strong sell rating to a hold rating in a research report on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. MGM Resorts International currently has an average rating of Buy and a consensus target price of $36.50.

MGM opened at $26.65 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.64 and a current ratio of 0.68. MGM Resorts International has a 1 year low of $25.70 and a 1 year high of $38.41. The company has a market capitalization of $14.70 billion, a P/E ratio of 29.39, a P/E/G ratio of 4.50 and a beta of 1.39.

MGM Resorts International (NYSE:MGM) last released its earnings results on Thursday, August 2nd. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. MGM Resorts International had a net margin of 17.11% and a return on equity of 5.07%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same period last year, the company earned $0.28 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts anticipate that MGM Resorts International will post 1.16 EPS for the current year.

In other news, Director Alexis Herman sold 3,500 shares of MGM Resorts International stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $28.85, for a total transaction of $100,975.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Daniel D’arrigo sold 29,377 shares of MGM Resorts International stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $29.23, for a total transaction of $858,689.71. Following the sale, the chief financial officer now owns 260,676 shares in the company, valued at approximately $7,619,559.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,627 shares of company stock worth $1,009,155. 12.20% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Oakbrook Investments LLC raised its stake in shares of MGM Resorts International by 54.0% during the third quarter. Oakbrook Investments LLC now owns 56,637 shares of the company’s stock valued at $1,581,000 after purchasing an additional 19,850 shares during the period. Aperio Group LLC raised its stake in shares of MGM Resorts International by 11.7% during the third quarter. Aperio Group LLC now owns 162,188 shares of the company’s stock valued at $4,527,000 after purchasing an additional 17,012 shares during the period. Coastline Trust Co purchased a new stake in shares of MGM Resorts International during the third quarter valued at approximately $251,000. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of MGM Resorts International by 60.4% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 59,562 shares of the company’s stock valued at $1,662,000 after purchasing an additional 22,425 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of MGM Resorts International by 40.3% during the third quarter. Bank of Montreal Can now owns 281,233 shares of the company’s stock valued at $7,849,000 after purchasing an additional 80,780 shares during the period. Institutional investors own 80.10% of the company’s stock.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

Further Reading: Buyback

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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