MGM Resorts International (NYSE:MGM) shares gapped up before the market opened on Monday after Argus raised their price target on the stock to $35.00. The stock had previously closed at $30.59, but opened at $30.47. Argus currently has a buy rating on the stock. MGM Resorts International shares last traded at $30.40, with a volume of 189,004 shares trading hands.

Other analysts have also issued reports about the stock. ValuEngine raised shares of United Bancshares Inc. OH from a “sell” rating to a “hold” rating in a research note on Sunday. JPMorgan Chase & Co. lifted their price objective on PROS from $55.00 to $78.00 and gave the company an “overweight” rating in a report on Friday. Deutsche Bank set a $129.00 price objective on Proofpoint and gave the company a “hold” rating in a report on Friday. Morgan Stanley set a $112.00 price objective on Tractor Supply and gave the company a “hold” rating in a report on Friday. Finally, Citigroup lifted their price objective on BRP from C$49.00 to C$54.00 in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.62.

In other news, Director Keith A. Meister bought 81,249 shares of MGM Resorts International stock in a transaction on Monday, June 24th. The stock was acquired at an average cost of $27.99 per share, for a total transaction of $2,274,159.51. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Keith A. Meister bought 2,874,578 shares of MGM Resorts International stock in a transaction on Friday, June 7th. The stock was purchased at an average price of $26.18 per share, with a total value of $75,256,452.04. The disclosure for this purchase can be found here. Insiders purchased 6,117,360 shares of company stock valued at $161,200,100 over the last 90 days. 3.47% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in MGM Resorts International by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 6,387,824 shares of the company’s stock worth $154,688,000 after purchasing an additional 366,980 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new position in shares of MGM Resorts International in the 4th quarter worth about $675,000. Thrivent Financial for Lutherans increased its stake in shares of MGM Resorts International by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 21,903 shares of the company’s stock worth $531,000 after acquiring an additional 386 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of MGM Resorts International in the 4th quarter worth about $240,000. Finally, Kentucky Retirement Systems bought a new position in shares of MGM Resorts International in the 4th quarter worth about $529,000. Institutional investors and hedge funds own 79.36% of the company’s stock.

The company has a debt-to-equity ratio of 1.39, a current ratio of 0.73 and a quick ratio of 0.69. The firm has a 50 day moving average price of $28.43. The firm has a market cap of $16.37 billion, a P/E ratio of 30.68, a P/E/G ratio of 4.00 and a beta of 1.40.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Thursday, July 25th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.02). The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.21 billion. MGM Resorts International had a return on equity of 3.77% and a net margin of 1.56%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.26 earnings per share. As a group, analysts anticipate that MGM Resorts International will post 0.94 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 10th will be paid a $0.13 dividend. The ex-dividend date is Monday, September 9th. This represents a $0.52 annualized dividend and a dividend yield of 1.71%. MGM Resorts International’s payout ratio is 52.53%.

About MGM Resorts International (NYSE:MGM)

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

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