MGM Resorts International (NYSE:MGM) Price Target Raised to $50.00

MGM Resorts International (NYSE:MGM) had its target price hoisted by Stifel Nicolaus from $47.00 to $50.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

MGM has been the subject of several other reports. Jefferies Financial Group dropped their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Morgan Stanley raised their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Capital One Financial upped their price target on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday. BTIG Research lowered shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Finally, Susquehanna Bancshares upped their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.47.

MGM Resorts International Stock Performance

NYSE:MGM opened at $39.82 on Thursday. The company has a market capitalization of $11.85 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 2.94 and a beta of 2.20. The business has a 50 day moving average of $34.38 and a 200 day moving average of $36.77. 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.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts predict that MGM Resorts International will post 2.37 earnings per share for the current fiscal year.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MGM Resorts International

Hedge funds have recently bought and sold shares of the business. Davis Selected Advisers boosted its position in shares of MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock worth $690,253,000 after purchasing an additional 882,417 shares in the last quarter. Invesco Ltd. grew its stake in shares of MGM Resorts International by 22.5% in the fourth quarter. Invesco Ltd. now owns 5,785,343 shares of the company’s stock worth $200,462,000 after acquiring an additional 1,063,707 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of MGM Resorts International by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after acquiring an additional 90,645 shares in the last quarter. Marshall Wace LLP raised its position in shares of MGM Resorts International by 50.9% in the 4th quarter. Marshall Wace LLP now owns 3,233,718 shares of the company’s stock worth $112,048,000 after purchasing an additional 1,090,533 shares during the last quarter. Finally, Goldentree Asset Management LP boosted its stake in MGM Resorts International by 86.4% in 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 in the last quarter. 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.