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

MGM Resorts International (NYSE:MGM) had its price objective boosted by Susquehanna Bancshares from $53.00 to $56.00 in a research note issued to investors on Wednesday. Susquehanna Bancshares’ target price suggests a potential upside of 63.08% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Truist Financial reduced their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Barclays reduced their price target on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Morgan Stanley raised their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a report on Thursday, January 16th. Finally, Wells Fargo & Company dropped their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.20.

MGM Resorts International Price Performance

Shares of MGM traded up $0.07 during mid-day trading on Wednesday, reaching $34.34. The company had a trading volume of 6,780,664 shares, compared to its average volume of 4,664,021. The company’s 50 day simple moving average is $34.31 and its 200 day simple moving average is $36.83. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The company has a market capitalization of $10.22 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 2.94 and a beta of 2.20.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction on 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 transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MGM Resorts International

A number of hedge funds have recently bought and sold shares of MGM. Empower Advisory Group LLC raised its stake in shares of MGM Resorts International by 4.2% during the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after purchasing an additional 62,997 shares during the period. Goldentree Asset Management LP raised its stake in shares of MGM Resorts International by 86.4% during the 3rd 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 during the period. Miracle Mile Advisors LLC bought a new stake in shares of MGM Resorts International during the 4th quarter worth $2,010,000. Assenagon Asset Management S.A. raised its stake in shares of MGM Resorts International by 80.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock worth $12,411,000 after purchasing an additional 159,522 shares during the period. Finally, Zacks Investment Management raised its stake in shares of MGM Resorts International by 7.8% during the 3rd quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock worth $15,651,000 after purchasing an additional 29,107 shares during the period. 68.11% of the stock is owned by hedge funds and other 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.