Investment analysts at Jefferies Group started coverage on shares of MGM Resorts International (NYSE:MGM) in a research report issued to clients and investors on Thursday, The Fly reports. The firm set a “buy” rating on the stock.
Other equities research analysts have also issued reports about the company. Morgan Stanley set a $34.00 price objective on MGM Resorts International and gave the stock a “buy” rating in a research note on Friday, October 13th. Instinet restated a “buy” rating and issued a $40.00 price target on shares of MGM Resorts International in a research report on Tuesday, October 3rd. Nomura dropped their price target on MGM Resorts International from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, November 1st. Roth Capital assumed coverage on MGM Resorts International in a research report on Wednesday, October 25th. They issued a “buy” rating and a $38.00 price target for the company. Finally, Stifel Nicolaus lowered MGM Resorts International from a “buy” rating to a “hold” rating and dropped their price target for the company from $38.00 to $33.00 in a research report on Wednesday, October 18th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. MGM Resorts International presently has an average rating of “Buy” and a consensus target price of $36.79.
Shares of MGM Resorts International (NYSE:MGM) traded down $0.47 during trading on Thursday, hitting $36.07. The company had a trading volume of 6,130,000 shares, compared to its average volume of 7,100,000. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 1.26. MGM Resorts International has a 1 year low of $25.15 and a 1 year high of $36.65. The stock has a market cap of $20,420.00, a price-to-earnings ratio of 35.36, a PEG ratio of 6.57 and a beta of 1.45.
In other MGM Resorts International news, Director Sean Charland acquired 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were purchased at an average cost of $22.50 per share, for a total transaction of $562,500.00. Also, Director William A. Bible sold 6,128 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $33.23, for a total value of $203,633.44. Following the completion of the transaction, the director now owns 27,081 shares in the company, valued at $899,901.63. The disclosure for this sale can be found here. Insiders sold 96,877 shares of company stock valued at $3,187,002 over the last 90 days. Company insiders own 12.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. acquired a new position in MGM Resorts International in the fourth quarter valued at approximately $604,000. Schwab Charles Investment Management Inc. lifted its holdings in MGM Resorts International by 3.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,822,821 shares of the company’s stock valued at $60,864,000 after acquiring an additional 67,872 shares during the last quarter. Spirit of America Management Corp NY lifted its holdings in MGM Resorts International by 78.1% in the fourth quarter. Spirit of America Management Corp NY now owns 5,700 shares of the company’s stock valued at $190,000 after acquiring an additional 2,500 shares during the last quarter. National Pension Service lifted its holdings in MGM Resorts International by 3.5% in the fourth quarter. National Pension Service now owns 532,730 shares of the company’s stock valued at $17,788,000 after acquiring an additional 17,834 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in MGM Resorts International by 17.5% in the third quarter. Parametric Portfolio Associates LLC now owns 501,098 shares of the company’s stock valued at $16,331,000 after acquiring an additional 74,471 shares during the last quarter. Hedge funds and other institutional investors own 82.96% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “MGM Resorts International (MGM) Receives New Coverage from Analysts at Jefferies Group” was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://www.com-unik.info/2018/01/18/mgm-resorts-international-mgm-receives-new-coverage-from-analysts-at-jefferies-group.html.
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.
Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with MarketBeat.com's FREE daily email newsletter.