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

MGM Resorts International (NYSE:MGM) had its price target raised by Capital One Financial from $52.00 to $56.00 in a report released on Wednesday. Capital One Financial currently has an overweight rating on the stock.

Several other research analysts have also recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, January 16th. Truist Financial reduced their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Barclays reduced their price target on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Mizuho reduced their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, 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 research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.47.

MGM Resorts International Stock Performance

Shares of NYSE MGM opened at $39.82 on Wednesday. The stock’s 50-day moving average is $34.38 and its 200 day moving average is $36.81. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The stock 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 issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. On average, sell-side analysts anticipate that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Insider Activity

In related news, Director Keith A. Meister sold 51,000 shares of the firm’s 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Institutional investors and hedge funds have recently modified their holdings of the business. MidAtlantic Capital Management Inc. bought a new stake in shares of MGM Resorts International during the 3rd quarter worth approximately $28,000. Global Trust Asset Management LLC purchased a new position in MGM Resorts International during the 4th quarter worth $28,000. Assetmark Inc. increased its holdings in MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after purchasing an additional 411 shares during the period. Eastern Bank purchased a new position in MGM Resorts International during the 3rd quarter worth $35,000. Finally, Global Retirement Partners LLC increased its holdings 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 purchasing an additional 404 shares during the period. 68.11% of the stock is owned by institutional investors.

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.