MGM Resorts International (NYSE:MGM)‘s stock had its “overweight” rating restated by Barclays PLC in a research note issued on Monday, October 2nd, MarketBeat.com reports.

A number of other equities analysts have also recently issued reports on MGM. UBS AG cut shares of MGM Resorts International from a “buy” rating to a “neutral” rating and upped their price target for the stock from $33.00 to $36.00 in a research note on Tuesday, August 1st. BidaskClub cut shares of MGM Resorts International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Instinet reiterated a “buy” rating on shares of MGM Resorts International in a research note on Monday, July 17th. Deutsche Bank AG reiterated a “buy” rating and issued a $36.00 price target (up previously from $34.00) on shares of MGM Resorts International in a research note on Sunday, July 30th. Finally, Telsey Advisory Group upped their target price on shares of MGM Resorts International from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. MGM Resorts International currently has a consensus rating of “Buy” and a consensus price target of $35.73.

Shares of MGM Resorts International (MGM) traded down 1.10% during trading on Monday, reaching $29.74. 12,380,941 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $32.02 and its 200-day moving average price is $31.35. The stock has a market cap of $17.11 billion, a PE ratio of 17.61 and a beta of 1.46. MGM Resorts International has a 52-week low of $25.15 and a 52-week high of $34.65.

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 the Zacks’ consensus estimate of $0.28 by $0.03. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.67 billion. MGM Resorts International had a net margin of 9.26% and a return on equity of 7.97%. MGM Resorts International’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS. On average, equities research analysts forecast that MGM Resorts International will post $1.28 EPS for the current year.

MGM Resorts International announced that its board has initiated a stock buyback program on Tuesday, September 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

WARNING: “MGM Resorts International (MGM) Given Overweight Rating at Barclays PLC” was originally posted by Marea Informative and is the property of of Marea Informative. If you are reading this piece of content on another website, it was illegally copied and republished in violation of United States and international trademark & copyright law. The original version of this piece of content can be read at http://www.mareainformativa.com/mgm-resorts-internationals-mgm-overweight-rating-reiterated-at-barclays-plc/117644/.

In other MGM Resorts International news, CEO James Murren sold 57,269 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $33.05, for a total value of $1,892,740.45. Following the completion of the transaction, the chief executive officer now directly owns 1,231,611 shares in the company, valued at approximately $40,704,743.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Baldwin sold 49,179 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 145,105 shares of the company’s stock, valued at $4,807,328.65. The disclosure for this sale can be found here. Insiders sold a total of 819,831 shares of company stock valued at $27,686,927 over the last three months. 12.20% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Pacad Investment Ltd. bought a new position in MGM Resorts International in the 2nd quarter worth approximately $169,000. Toronto Dominion Bank boosted its position in shares of MGM Resorts International by 12.4% during the 2nd quarter. Toronto Dominion Bank now owns 5,644 shares of the company’s stock valued at $177,000 after acquiring an additional 624 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of MGM Resorts International by 30.4% during the 1st quarter. Global X Management Co. LLC now owns 7,403 shares of the company’s stock valued at $203,000 after acquiring an additional 1,724 shares during the last quarter. Colony Group LLC bought a new position in shares of MGM Resorts International during the 2nd quarter valued at approximately $203,000. Finally, Cigna Investments Inc. New bought a new position in shares of MGM Resorts International during the 2nd quarter valued at approximately $206,000. Institutional investors and hedge funds own 75.20% of the company’s stock.

About MGM Resorts International

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)

Receive News & Stock 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 stocks with our FREE daily email newsletter.