Morgan Stanley Increases MGM Resorts International (NYSE:MGM) Price Target to $44.00

MGM Resorts International (NYSE:MGM - Get Free Report) had its target price upped by analysts at Morgan Stanley from $43.00 to $44.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price target points to a potential upside of 8.59% from the company's previous close.

MGM has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft cut their price objective on MGM Resorts International from $57.00 to $52.00 and set a "buy" rating for the company in a research report on Tuesday, October 1st. JMP Securities decreased their target price on shares of MGM Resorts International from $57.00 to $56.00 and set a "market outperform" rating on the stock in a research report on Monday, October 14th. Stifel Nicolaus lifted their target price on MGM Resorts International from $60.00 to $63.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. BTIG Research began coverage on MGM Resorts International in a report on Wednesday, July 3rd. They set a "buy" rating and a $52.00 price target on the stock. Finally, Barclays dropped their price objective on shares of MGM Resorts International from $56.00 to $54.00 and set an "overweight" rating for the company in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $53.64.

MGM Resorts International Stock Performance

Shares of MGM traded up $0.04 on Tuesday, reaching $40.52. The company's stock had a trading volume of 2,683,115 shares, compared to its average volume of 4,067,934. The stock's 50 day simple moving average is $38.25 and its two-hundred day simple moving average is $40.42. The stock has a market capitalization of $12.71 billion, a P/E ratio of 15.58, a PEG ratio of 0.92 and a beta of 2.23. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.42.

MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.20. The firm had revenue of $4.33 billion during the quarter, compared to analysts' expectations of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 earnings per share. Research analysts forecast that MGM Resorts International will post 2.55 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, CEO William Hornbuckle purchased 58,900 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the completion of the acquisition, the chief executive officer now owns 377,112 shares of the company's stock, valued at approximately $12,719,987.76. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the transaction, the director now directly owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Hornbuckle purchased 58,900 shares of the business's stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the completion of the acquisition, the chief executive officer now directly owns 377,112 shares in the company, valued at approximately $12,719,987.76. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 216,400 shares of company stock valued at $7,312,197. 2.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MGM Resorts International

A number of large investors have recently made changes to their positions in MGM. UMB Bank n.a. raised its position in MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company's stock worth $42,000 after buying an additional 237 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in shares of MGM Resorts International by 0.4% during the first quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company's stock worth $2,667,000 after purchasing an additional 245 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in MGM Resorts International by 1.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company's stock valued at $1,018,000 after purchasing an additional 278 shares during the period. HB Wealth Management LLC boosted its holdings in MGM Resorts International by 6.3% in the second quarter. HB Wealth Management LLC now owns 4,917 shares of the company's stock valued at $219,000 after purchasing an additional 293 shares during the last quarter. Finally, US Bancorp DE grew its position in MGM Resorts International by 1.3% during the 1st quarter. US Bancorp DE now owns 23,558 shares of the company's stock worth $1,112,000 after purchasing an additional 298 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

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.