Susquehanna Bancshares Boosts MGM Resorts International (NYSE:MGM) Price Target to $56.00

MGM Resorts International (NYSE:MGM) had its price objective boosted by Susquehanna Bancshares from $53.00 to $56.00 in a report released on Wednesday morning.

A number of other equities analysts have also recently weighed in on the company. Morgan Stanley upped their price target on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a 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 report on Thursday, January 16th. Mizuho decreased their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. BTIG Research cut MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently 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 Wednesday. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24. The company has a 50-day moving average of $34.38 and a 200-day moving average of $36.81. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The company has a market cap 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 posted its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (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%. As a group, equities analysts predict that MGM Resorts International will post 2.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 51,000 shares of the firm’s 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 directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MGM. AQR Capital Management LLC grew its holdings in MGM Resorts International by 12,726.8% during the fourth quarter. AQR Capital Management LLC now owns 1,278,965 shares of the company’s stock worth $44,316,000 after acquiring an additional 1,268,994 shares during the period. Northern Trust Corp boosted its holdings in shares of MGM Resorts International by 15.1% in the fourth quarter. Northern Trust Corp now owns 2,315,748 shares of the company’s stock worth $80,241,000 after buying an additional 303,711 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of MGM Resorts International by 2.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 185,011 shares of the company’s stock worth $6,411,000 after acquiring an additional 4,541 shares in the last quarter. Quarry LP increased its position in shares of MGM Resorts International by 750.6% in the fourth quarter. Quarry LP now owns 1,446 shares of the company’s stock worth $50,000 after acquiring an additional 1,276 shares in the last quarter. Finally, Aquatic Capital Management LLC increased its position 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 acquiring an additional 63,658 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

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.