Brokerages Set MGM Resorts International (NYSE:MGM) Price Target at $51.93

MGM Resorts International (NYSE:MGM) has been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $51.93.

Several research analysts recently commented on the company. Wells Fargo & Company dropped their price target 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. Morgan Stanley boosted their target price on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. JMP Securities restated a “market outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, January 16th. Barclays cut their price objective on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Finally, Jefferies Financial Group lowered their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd.

MGM Resorts International Trading Down 0.2 %

MGM stock opened at $34.49 on Friday. The firm has a fifty day moving average price of $34.80 and a 200 day moving average price of $37.34. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24. The firm has a market cap of $10.27 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 2.89 and a beta of 2.21. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The business had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 earnings per share. Sell-side analysts anticipate that MGM Resorts International will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HG Vora Capital Management LLC bought a new position in shares of MGM Resorts International in the 3rd quarter worth $97,725,000. Goldentree Asset Management LP raised its holdings in MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after purchasing an additional 1,390,599 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in MGM Resorts International in the third quarter worth about $17,622,000. ArrowMark Colorado Holdings LLC lifted its position in MGM Resorts International by 207.5% during the third quarter. ArrowMark Colorado Holdings LLC now owns 656,475 shares of the company’s stock valued at $25,662,000 after acquiring an additional 442,975 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of MGM Resorts International by 3,041.1% in the 4th quarter. KBC Group NV now owns 388,047 shares of the company’s stock worth $13,446,000 after purchasing an additional 375,693 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Company Profile

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.