MGM Resorts International (NYSE:MGM) Price Target Raised to $46.00

MGM Resorts International (NYSE:MGM) had its target price hoisted by Wells Fargo & Company from $44.00 to $46.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently weighed in on the company. Morgan Stanley boosted their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Mizuho raised their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday. JMP Securities reiterated a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research note on Thursday, January 16th. Capital One Financial raised their price target on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Stifel Nicolaus upped their price objective on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.47.

MGM Resorts International Trading Down 1.4 %

NYSE:MGM opened at $39.82 on Thursday. The company’s 50 day moving average is $34.38 and its 200-day moving average is $36.77. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24. The firm has a market cap of $11.85 billion, a price-to-earnings 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 earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. Equities analysts anticipate that MGM Resorts International will post 2.37 EPS for the current year.

Insider Activity at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now directly 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.13% of the stock is owned by insiders.

Institutional Trading of MGM Resorts International

Hedge funds have recently modified their holdings of the company. TD Waterhouse Canada Inc. grew its position in MGM Resorts International by 8.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,190 shares of the company’s stock worth $111,000 after acquiring an additional 261 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of MGM Resorts International by 0.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock worth $2,080,000 after purchasing an additional 309 shares during the last quarter. Ballentine Partners LLC increased its stake in shares of MGM Resorts International by 5.4% in the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock valued at $227,000 after buying an additional 333 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of MGM Resorts International by 1.7% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock valued at $684,000 after buying an additional 333 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its position in MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after buying an additional 404 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

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.