MGM Resorts International (NYSE:MGM) Price Target Raised to $47.00

MGM Resorts International (NYSE:MGM) had its target price raised by Barclays from $45.00 to $47.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

MGM has been the topic of several other research reports. BTIG Research lowered shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley upped their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group cut their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, January 16th. Finally, Wells Fargo & Company cut their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, MGM Resorts International currently has an average rating of “Moderate Buy” and an average price target of $51.47.

MGM Resorts International Stock Down 1.4 %

Shares of MGM opened at $39.82 on Thursday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The company has a 50-day simple moving average of $34.38 and a 200-day simple moving average of $36.77. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24. The firm has a market capitalization of $11.85 billion, a P/E ratio of 14.22, a P/E/G ratio of 2.94 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. On average, equities research analysts expect that MGM Resorts International will post 2.37 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the sale, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. MidAtlantic Capital Management Inc. bought a new stake in shares of MGM Resorts International during the third quarter worth $28,000. Global Trust Asset Management LLC acquired a new stake in MGM Resorts International in the fourth quarter worth about $28,000. Assetmark Inc. raised its holdings in MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after purchasing an additional 411 shares during the last quarter. Eastern Bank acquired a new position in MGM Resorts International during the 3rd quarter valued at about $35,000. Finally, Global Retirement Partners LLC boosted its stake in shares of MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after purchasing an additional 404 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. 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.