MGM Resorts International (NYSE:MGM) Price Target Raised to $41.00

MGM Resorts International (NYSE:MGM) had its price target boosted by Morgan Stanley from $39.00 to $41.00 in a report issued on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other analysts also recently issued reports on MGM. Needham & Company LLC restated a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Mizuho lifted their price target on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th. Truist Financial lowered their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, Leerink Partners cut MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.29.

MGM Resorts International Price Performance

MGM Resorts International stock opened at $35.13 on Monday. The firm has a market capitalization of $10.03 billion, a PE ratio of 14.64, a P/E/G ratio of 0.98 and a beta of 2.20. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24. The firm’s 50-day simple moving average is $34.59 and its 200 day simple moving average is $36.78. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, equities research analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Buying and Selling

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the transaction, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. This trade represents a 24.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,865,070.00. Following the completion of the sale, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MGM Resorts International

Several large investors have recently added to or reduced their stakes in MGM. Ameriflex Group Inc. acquired a new stake in shares of MGM Resorts International during the fourth quarter worth $484,000. Neo Ivy Capital Management acquired a new position in MGM Resorts International in the fourth quarter valued at approximately $3,715,000. Fourth Dimension Wealth LLC bought a new position in shares of MGM Resorts International during the fourth quarter valued at approximately $115,000. Vise Technologies Inc. acquired a new stake in shares of MGM Resorts International during the 4th quarter worth approximately $211,000. Finally, PharVision Advisers LLC bought a new stake in shares of MGM Resorts International in the 4th quarter worth approximately $212,000. 68.11% of the stock is currently owned by 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.