Analysts Set MGM Resorts International (NYSE:MGM) Price Target at $55.28

Shares of MGM Resorts International (NYSE:MGM) have been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $55.28.

A number of research firms recently weighed in on MGM. StockNews.com downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Mizuho began coverage on MGM Resorts International in a research note on Tuesday, March 26th. They issued a “buy” rating and a $61.00 price target on the stock. Macquarie restated an “outperform” rating and issued a $58.00 price target on shares of MGM Resorts International in a research note on Wednesday, February 14th. JPMorgan Chase & Co. lifted their price target on MGM Resorts International from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares in the company, valued at $261,637,576.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.83% of the company’s stock.

Institutional Trading of MGM Resorts International

Hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of MGM Resorts International by 1.3% during the second quarter. BlackRock Inc. now owns 22,227,721 shares of the company’s stock worth $976,241,000 after acquiring an additional 290,839 shares in the last quarter. Bamco Inc. NY raised its holdings in shares of MGM Resorts International by 4.5% during the third quarter. Bamco Inc. NY now owns 1,912,447 shares of the company’s stock worth $70,302,000 after acquiring an additional 82,134 shares in the last quarter. Black Swift Group LLC raised its holdings in shares of MGM Resorts International by 133.3% during the third quarter. Black Swift Group LLC now owns 105,000 shares of the company’s stock worth $3,860,000 after acquiring an additional 60,000 shares in the last quarter. Boston Partners raised its holdings in shares of MGM Resorts International by 1,447.6% during the third quarter. Boston Partners now owns 3,980,892 shares of the company’s stock worth $145,916,000 after acquiring an additional 3,723,659 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in shares of MGM Resorts International by 544.8% during the third quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock worth $73,364,000 after acquiring an additional 1,686,267 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

MGM Resorts International Trading Up 0.7 %

Shares of MGM stock opened at $46.75 on Monday. The business’s 50 day moving average is $44.02 and its two-hundred day moving average is $41.38. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35. The company has a market capitalization of $14.82 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.58 and a beta of 2.19. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.39. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The company had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same period last year, the business posted $0.69 EPS. The company’s revenue was up 21.8% on a year-over-year basis. Equities analysts forecast that MGM Resorts International will post 2.53 EPS for the current year.

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.