MGM Resorts International (NYSE:MGM) PT Raised to $44.00

MGM Resorts International (NYSE:MGM) had its target price boosted by Morgan Stanley from $43.00 to $44.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other brokerages have also recently issued reports on MGM. Deutsche Bank Aktiengesellschaft reduced their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Wells Fargo & Company lowered their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. JMP Securities reduced their price target on MGM Resorts International from $57.00 to $56.00 and set a “market outperform” rating for the company in a research report on Monday, October 14th. Stifel Nicolaus upped their price objective on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, UBS Group raised shares of MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, MGM Resorts International currently has a consensus rating of “Moderate Buy” and an average target price of $54.08.

MGM Resorts International Stock Up 0.7 %

MGM Resorts International stock opened at $40.37 on Tuesday. The business’s 50-day simple moving average is $38.38 and its two-hundred day simple moving average is $40.33. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. The company has a market cap of $12.26 billion, a PE ratio of 15.23, a PEG ratio of 0.97 and a beta of 2.23. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.20. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the firm earned $0.59 earnings per share. MGM Resorts International’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts anticipate that MGM Resorts International will post 2.54 EPS for the current year.

Insider Activity

In related news, Director Paul J. Salem purchased 147,500 shares of MGM Resorts International stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $33.80 per share, for a total transaction of $4,985,500.00. Following the transaction, the director now directly owns 1,702,500 shares in the company, valued at approximately $57,544,500. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $34.00 per share, for a total transaction of $340,000.00. Following the completion of the transaction, the chief financial officer now owns 38,299 shares of the company’s stock, valued at $1,302,166. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul J. Salem acquired 147,500 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $33.80 per share, for a total transaction of $4,985,500.00. Following the acquisition, the director now directly owns 1,702,500 shares in the company, valued at $57,544,500. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 216,400 shares of company stock worth $7,312,197 over the last 90 days. 2.13% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MGM Resorts International

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in MGM Resorts International during the second quarter worth about $28,000. EverSource Wealth Advisors LLC boosted its holdings in shares of MGM Resorts International by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after purchasing an additional 329 shares during the last quarter. Eastern Bank purchased a new stake in shares of MGM Resorts International in the third quarter valued at approximately $35,000. UMB Bank n.a. increased its holdings in shares of MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in MGM Resorts International during the second quarter worth approximately $49,000. Hedge funds and other institutional investors 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.