MGM Resorts International (NYSE:MGM)‘s stock had its “neutral” rating restated by stock analysts at Susquehanna Bancshares Inc in a report issued on Tuesday.

Several other equities analysts also recently commented on MGM. UBS AG downgraded shares of MGM Resorts International from a “positive” rating to a “neutral” rating in a research note on Tuesday. Barclays PLC reissued an “overweight” rating on shares of MGM Resorts International in a research note on Monday. Deutsche Bank AG cut MGM Resorts International from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a research note on Monday, September 11th. Bank of America Corporation restated a “buy” rating and set a $40.00 price target (up previously from $38.00) on shares of MGM Resorts International in a report on Friday, September 8th. Finally, Stifel Nicolaus restated a “buy” rating on shares of MGM Resorts International in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $35.12.

MGM Resorts International (NYSE:MGM) opened at 30.77 on Tuesday. MGM Resorts International has a 12-month low of $25.15 and a 12-month high of $34.65. The company has a market cap of $17.70 billion, a price-to-earnings ratio of 18.22 and a beta of 1.46. The firm’s 50-day moving average is $32.17 and its 200 day moving average is $31.15.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.67 billion. MGM Resorts International had a net margin of 9.26% and a return on equity of 7.97%. The company’s revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS. On average, equities analysts expect that MGM Resorts International will post $1.29 earnings per share for the current fiscal year.

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

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In other news, insider Corey Ian Sanders sold 16,446 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $33.63, for a total value of $553,078.98. Following the sale, the insider now directly owns 198,058 shares of the company’s stock, valued at $6,660,690.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert Baldwin sold 49,179 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $33.13, for a total value of $1,629,300.27. Following the completion of the sale, the insider now directly owns 145,105 shares in the company, valued at $4,807,328.65. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 819,831 shares of company stock valued at $27,686,927. 12.20% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the company. Canyon Capital Advisors LLC boosted its stake in MGM Resorts International by 19.3% in the 1st quarter. Canyon Capital Advisors LLC now owns 17,818,760 shares of the company’s stock worth $488,234,000 after purchasing an additional 2,877,500 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in MGM Resorts International during the 1st quarter valued at about $2,165,000. Neuberger Berman Group LLC grew its position in MGM Resorts International by 63.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,189,143 shares of the company’s stock valued at $37,208,000 after purchasing an additional 460,431 shares during the last quarter. GMT Capital Corp grew its position in MGM Resorts International by 89.4% during the 1st quarter. GMT Capital Corp now owns 3,490,000 shares of the company’s stock valued at $95,626,000 after purchasing an additional 1,647,200 shares during the last quarter. Finally, Highbridge Capital Management LLC grew its position in MGM Resorts International by 92.4% during the 1st quarter. Highbridge Capital Management LLC now owns 36,357 shares of the company’s stock valued at $996,000 after purchasing an additional 17,457 shares during the last quarter. Hedge funds and other institutional investors own 75.17% of the company’s stock.

MGM Resorts International Company Profile

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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