MGM Resorts International (NYSE:MGM - Free Report) had its target price lifted by Barclays from $45.00 to $47.00 in a research report sent to investors on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.
A number of other research analysts have also issued reports on the company. Morgan Stanley boosted 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. Jefferies Financial Group decreased their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a "buy" rating for the company in a research report on Friday, January 3rd. JMP Securities restated a "market outperform" rating and set a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, January 16th. Mizuho reduced their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an "outperform" rating for the company in a research note on Thursday, October 31st. Finally, Susquehanna Bancshares raised their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.47.
Check Out Our Latest Stock Analysis on MGM
MGM Resorts International Stock Performance
Shares of MGM Resorts International stock traded down $0.56 during trading on Thursday, hitting $39.82. 6,451,467 shares of the stock were exchanged, compared to its average volume of 4,507,628. The stock has a market cap of $11.85 billion, a PE ratio of 14.22, a P/E/G ratio of 2.94 and a beta of 2.20. The stock's fifty day moving average is $34.38 and its 200 day moving average is $36.73. MGM Resorts International has a 12 month low of $31.61 and a 12 month 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.
MGM Resorts International (NYSE:MGM - Get Free Report) last announced 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 5.23% and a return on equity of 25.84%. As a group, sell-side analysts anticipate that MGM Resorts International will post 2.37 EPS for the current year.
Insider Transactions at MGM Resorts International
In related news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.13% of the stock is owned by insiders.
Institutional Trading of MGM Resorts International
A number of hedge funds have recently bought and sold shares of MGM. Empower Advisory Group LLC lifted its position in shares of MGM Resorts International by 4.2% in the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company's stock valued at $61,430,000 after acquiring an additional 62,997 shares in the last quarter. Goldentree Asset Management LP raised its position in MGM Resorts International by 86.4% during the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company's stock valued at $117,270,000 after buying an additional 1,390,599 shares during the period. Miracle Mile Advisors LLC purchased a new stake in MGM Resorts International in the 4th quarter worth about $2,010,000. Assenagon Asset Management S.A. boosted its position in 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 acquiring an additional 159,522 shares during the period. Finally, Zacks Investment Management increased its holdings in shares of MGM Resorts International by 7.8% in the 3rd quarter. Zacks Investment Management now owns 400,393 shares of the company's stock valued at $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.
About MGM Resorts International
(
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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.
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