Stifel Nicolaus Increases MGM Resorts International (NYSE:MGM) Price Target to $50.00

MGM Resorts International (NYSE:MGM - Free Report) had its target price hoisted by Stifel Nicolaus from $47.00 to $50.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Barclays upped their price objective on MGM Resorts International from $45.00 to $47.00 and gave the company an "overweight" rating in a research report on Thursday. Capital One Financial increased their price target on MGM Resorts International from $52.00 to $56.00 and gave the company an "overweight" rating in a report on Wednesday, February 12th. Susquehanna Bancshares raised their price target on MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Jefferies Financial Group cut their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, January 3rd. Finally, Morgan Stanley increased their target price 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. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, MGM Resorts International currently has an average rating of "Moderate Buy" and an average target price of $51.47.

MGM Resorts International Price Performance

Shares of MGM traded down $0.56 during midday trading on Thursday, hitting $39.82. 6,451,467 shares of the company traded hands, compared to its average volume of 4,507,628. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 2.94 and a beta of 2.20. The firm has a 50 day moving average of $34.38 and a 200-day moving average of $36.73. 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 has a 52 week low of $31.61 and a 52 week high of $48.24.

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 analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. On average, analysts forecast that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the 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 transaction, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.13% of the company's stock.

Institutional Trading of MGM Resorts International

A number of hedge funds have recently bought and sold shares of the stock. Davis Selected Advisers increased its holdings in shares of MGM Resorts International by 4.6% in the 4th 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 during the period. Invesco Ltd. grew its stake in MGM Resorts International by 22.5% in the fourth quarter. Invesco Ltd. now owns 5,785,343 shares of the company's stock valued at $200,462,000 after purchasing an additional 1,063,707 shares during the last quarter. Fisher Asset Management LLC raised its holdings in MGM Resorts International by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company's stock worth $177,777,000 after purchasing an additional 90,645 shares in the last quarter. Marshall Wace LLP lifted its position in shares of MGM Resorts International by 50.9% during the fourth quarter. Marshall Wace LLP now owns 3,233,718 shares of the company's stock valued at $112,048,000 after buying an additional 1,090,533 shares during the last quarter. Finally, Goldentree Asset Management LP boosted its holdings in shares of MGM Resorts International by 86.4% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

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.