Morgan Stanley Lowers MGM Resorts International (NYSE:MGM) Price Target to $36.00

MGM Resorts International (NYSE:MGM - Get Free Report) had its target price cut by research analysts at Morgan Stanley from $37.00 to $36.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price target suggests a potential upside of 24.35% from the company's current price.

MGM has been the topic of a number of other research reports. Wedbush reiterated an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Canaccord Genuity Group reissued a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Jefferies Financial Group dropped their price objective 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. Citigroup boosted their price objective on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus raised their target price on MGM Resorts International from $47.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $51.00.

MGM Resorts International Stock Down 2.6 %

Shares of NYSE:MGM traded down $0.76 during trading on Wednesday, hitting $28.95. 2,132,958 shares of the company's stock traded hands, compared to its average volume of 4,582,967. The company has a 50-day moving average price of $32.46 and a 200-day moving average price of $35.12. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $47.26. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The company has a market cap of $8.19 billion, a price-to-earnings ratio of 12.06, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, research analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In related news, CFO Jonathan S. Halkyard bought 10,000 shares of the business's stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the purchase, the chief financial officer now directly owns 75,648 shares in the company, valued at $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 approximately $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

Institutional Trading of MGM Resorts International

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in MGM Resorts International by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company's stock valued at $79,110,000 after purchasing an additional 38,749 shares during the period. Korea Investment CORP boosted its stake in MGM Resorts International by 964.3% during the fourth quarter. Korea Investment CORP now owns 145,287 shares of the company's stock worth $5,034,000 after acquiring an additional 131,636 shares in the last quarter. ACR Alpine Capital Research LLC increased its position in MGM Resorts International by 23.3% during the 4th quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company's stock valued at $5,613,000 after buying an additional 30,605 shares in the last quarter. Davis Selected Advisers increased its holdings in shares of MGM Resorts International by 4.6% during the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock valued at $690,253,000 after acquiring an additional 882,417 shares in the last quarter. Finally, Miracle Mile Advisors LLC purchased a new position in MGM Resorts International in the fourth quarter worth about $2,010,000. 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.

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