Argus analysts upgrades MGM Resorts International (NYSE:MGM)

Posted by George Brook September 19, 2013 0 Comment 1186 views

MGM Resorts International (NYSE:MGM) shares were upgraded by Argus analysts from a “hold” to a “buy” rating on Friday and the current PT on the shares is $23.00. Numerous other analysts have weighed on the MGM Resorts International (NYSE:MGM) stock lately. UBS AG upgraded the PT on the company shares from $17.00 to $19.00 on Wednesday and has now assigned a “neutral” rating in the stock.

Analyst opinion

Zacks analysts have reiterated their “outperform” rating on the stock on 26 August and their PT is now $22.00. Imperial Capital analysts have upped their PT on the shares from $15.00 to $20 on 15 August and have now set an “outperform” rating on the stock.

One research-analyst has assigned a “sell” rating on the stock, 6 have assigned a “hold” rating while 12 analysts have assigned a “buy” rating on the stock. The average rating on the MGM Resorts International (NYSE:MGM) stock is currently a “buy” and the average price target in $21.12.

Wednesday trading

The company stock rose 1.13% in Wednesday’s trading. The opening price of the shares was $19.78 which climbed to an intraday high of $19.88 and dipped to close at $19.77. Approximately 9.60 million shares exchanged hands on Wednesday and the average volume of the company’s shares traded over a period of 30 days was 8.49 million. The company has a market cap of $9.68 billion.

Insider sale

In separate news, John Mcmanus the company’s executive vice-president sold 6,779 shares of its stock on 13 September. The average sale price of the shares was $18.99 and the transaction totaled $128,733.21. This sale was disclosed in a filing with the SEC. MGM Resorts International (NYSE:MGM) is a holding company.

This hospitality company’s primary business is owning and operating casino resorts. It offers gaming, entertainment, convention, dining, retail as well as various other resort amenities

About George Brook

George Brook covers money and politics for GDP Insider. George is a veteran journalist who has also covered Congress, national political conventions and presidential politics. George also covers the White House as well as economic and domestic policy for GDP insider. George's reporting has won numerous awards, including two Scripps Howard awards, two National Headliners, two Gerald Loeb Awards, as well as honors from Sigma Delta Chi and the National Press Club.

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