Stifel Nicolaus Forecasts Strong Price Appreciation for MGM Resorts International (NYSE:MGM) Stock

MGM Resorts International (NYSE:MGM) had its price objective boosted by Stifel Nicolaus from $47.00 to $50.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also recently weighed in on MGM. Wells Fargo & Company lowered their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. JMP Securities restated a “market outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, January 16th. Mizuho increased 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. Finally, Capital One Financial boosted their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.47.

MGM Resorts International Stock Down 1.4 %

MGM stock opened at $39.82 on Thursday. The stock 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. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The business has a fifty day moving average price of $34.38 and a 200-day moving average price of $36.77.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results 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 net margin of 5.23% and a return on equity of 25.84%. Equities analysts forecast that MGM Resorts International will post 2.37 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred 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 sale, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its holdings in shares of MGM Resorts International by 12,726.8% in the fourth quarter. AQR Capital Management LLC now owns 1,278,965 shares of the company’s stock worth $44,316,000 after buying an additional 1,268,994 shares in the last quarter. Northern Trust Corp lifted its stake in MGM Resorts International by 15.1% in the 4th quarter. Northern Trust Corp now owns 2,315,748 shares of the company’s stock worth $80,241,000 after purchasing an additional 303,711 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of MGM Resorts International by 2.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 185,011 shares of the company’s stock valued at $6,411,000 after purchasing an additional 4,541 shares during the last quarter. Quarry LP grew its position in shares of MGM Resorts International by 750.6% during the fourth quarter. Quarry LP now owns 1,446 shares of the company’s stock valued at $50,000 after purchasing an additional 1,276 shares in the last quarter. Finally, Aquatic Capital Management LLC increased its holdings in shares of MGM Resorts International by 38.5% in the fourth quarter. Aquatic Capital Management LLC now owns 229,058 shares of the company’s stock worth $7,937,000 after purchasing an additional 63,658 shares during 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.