MGM Resorts International (NYSE:MGM) Given New $40.00 Price Target at Morgan Stanley

MGM Resorts International (NYSE:MGMGet Rating) had its target price hoisted by equities research analysts at Morgan Stanley from $39.00 to $40.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 4.82% from the stock’s current price.

MGM has been the topic of several other reports. StockNews.com began coverage on MGM Resorts International in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. JPMorgan Chase & Co. boosted their target price on MGM Resorts International from $47.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday, November 3rd. Stifel Nicolaus upgraded MGM Resorts International from a “hold” rating to a “buy” rating and boosted their target price for the stock from $42.00 to $46.00 in a research note on Friday, January 6th. Citigroup boosted their target price on MGM Resorts International from $58.00 to $58.50 and gave the stock a “buy” rating in a research note on Monday, September 26th. Finally, Wells Fargo & Company dropped their target price on MGM Resorts International from $58.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, October 21st. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and an average target price of $51.17.

MGM Resorts International Trading Down 0.3 %

MGM opened at $38.16 on Wednesday. The firm has a market cap of $14.65 billion, a price-to-earnings ratio of 13.07, a PEG ratio of 17.70 and a beta of 2.02. The company has a current ratio of 1.49, a quick ratio of 1.47 and a debt-to-equity ratio of 1.24. MGM Resorts International has a 12 month low of $26.41 and a 12 month high of $49.00. The stock has a fifty day moving average price of $36.23 and a 200-day moving average price of $33.95.

MGM Resorts International (NYSE:MGMGet Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of $0.22 by ($1.61). The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.26 billion. MGM Resorts International had a negative return on equity of 5.12% and a net margin of 10.48%. As a group, equities research analysts anticipate that MGM Resorts International will post 1.27 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In related news, COO Corey Ian Sanders sold 10,000 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $36.21, for a total value of $362,100.00. Following the completion of the transaction, the chief operating officer now owns 331,498 shares of the company’s stock, valued at approximately $12,003,542.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Rose Mckinney-James sold 2,870 shares of the company’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $38.04, for a total value of $109,174.80. Following the completion of the transaction, the director now owns 2,870 shares of the company’s stock, valued at approximately $109,174.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Corey Ian Sanders sold 10,000 shares of the company’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $36.21, for a total value of $362,100.00. Following the completion of the transaction, the chief operating officer now directly owns 331,498 shares of the company’s stock, valued at approximately $12,003,542.58. The disclosure for this sale can be found here. Insiders have sold 58,611 shares of company stock worth $2,186,562 over the last quarter. 2.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MGM Resorts International

A number of large investors have recently bought and sold shares of MGM. Price T Rowe Associates Inc. MD raised its holdings in shares of MGM Resorts International by 19.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 20,424,636 shares of the company’s stock valued at $591,293,000 after acquiring an additional 3,322,373 shares during the last quarter. Personal Capital Advisors Corp acquired a new position in shares of MGM Resorts International during the third quarter valued at approximately $31,218,000. Allspring Global Investments Holdings LLC raised its holdings in shares of MGM Resorts International by 4,630.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,006,932 shares of the company’s stock valued at $29,924,000 after acquiring an additional 985,647 shares during the last quarter. Long Pond Capital LP acquired a new position in shares of MGM Resorts International during the second quarter valued at approximately $26,892,000. Finally, Styrax Capital LP acquired a new position in shares of MGM Resorts International during the third quarter valued at approximately $25,029,000. Institutional investors and hedge funds own 82.77% of the company’s stock.

About MGM Resorts International

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MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. The firm’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China.

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