MGM Resorts International (NYSE:MGM - Get Free Report) had its price target raised by stock analysts at Wells Fargo & Company from $44.00 to $46.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's target price points to a potential upside of 15.53% from the company's previous close.
MGM has been the subject of a number of other research reports. Morgan Stanley upped their price objective 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 reaffirmed a "market outperform" rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, January 16th. Susquehanna Bancshares upped their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Barclays increased their price target on shares of MGM Resorts International from $45.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Truist Financial dropped their price target on shares of 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. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $51.47.
Check Out Our Latest Stock Analysis on MGM
MGM Resorts International Price Performance
Shares of NYSE:MGM traded down $0.56 during trading on Thursday, reaching $39.82. The company had a trading volume of 6,451,467 shares, compared to its average volume of 4,507,628. The company has a fifty day moving average of $34.38 and a two-hundred day moving average of $36.73. The stock has a market capitalization of $11.85 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 2.94 and a beta of 2.20. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24. 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 (NYSE:MGM - Get Free Report) 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%. Equities research analysts forecast that MGM Resorts International will post 2.37 earnings per share for the current year.
Insider Transactions at MGM Resorts International
In other news, Director Keith A. Meister sold 51,000 shares of the business's stock in a transaction on 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 transaction, the director now owns 5,687,478 shares of the company's stock, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.13% of the company's stock.
Institutional Investors Weigh In On MGM Resorts International
Hedge funds and other institutional investors have recently made changes to their positions in the company. MidAtlantic Capital Management Inc. bought a new position in shares of MGM Resorts International in the third quarter worth about $28,000. Global Trust Asset Management LLC bought a new position in MGM Resorts International during the 4th quarter worth about $28,000. Assetmark Inc. grew 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 acquiring an additional 411 shares in the last quarter. Eastern Bank purchased a new stake in shares of MGM Resorts International during the third quarter valued at about $35,000. Finally, Global Retirement Partners LLC lifted its position in shares of MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock valued at $43,000 after buying an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.
About MGM Resorts International
(
Get Free Report)
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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