MGM Resorts International (NYSE:MGM) PT Raised to $46.00

MGM Resorts International (NYSE:MGM) had its price target boosted by stock analysts at Morgan Stanley from $45.00 to $46.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 2.95% from the stock’s current price.

Several other research analysts also recently commented on the stock. TheStreet raised shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research note on Tuesday, February 13th. Barclays cut their target price on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. Deutsche Bank Aktiengesellschaft raised their target price on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Bank Of America (Bofa) raised their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of MGM Resorts International from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.34.

MGM Resorts International Trading Down 3.7 %

MGM stock opened at $44.68 on Tuesday. The company has a market capitalization of $14.16 billion, a PE ratio of 14.09, a P/E/G ratio of 2.01 and a beta of 2.19. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $51.35. The firm’s 50-day moving average is $44.26 and its 200 day moving average is $41.64. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.67 by $0.39. The company had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 EPS. On average, research analysts anticipate that MGM Resorts International will post 2.48 EPS for the current year.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, March 12th. The shares were 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 directly owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.83% of the stock is owned by company insiders.

Institutional Trading of MGM Resorts International

Institutional investors have recently bought and sold shares of the stock. Bamco Inc. NY lifted its stake in MGM Resorts International by 4.5% during the 3rd quarter. Bamco Inc. NY now owns 1,912,447 shares of the company’s stock valued at $70,302,000 after acquiring an additional 82,134 shares during the period. Black Swift Group LLC lifted its stake in MGM Resorts International by 133.3% during the 3rd quarter. Black Swift Group LLC now owns 105,000 shares of the company’s stock valued at $3,860,000 after acquiring an additional 60,000 shares during the period. Boston Partners lifted its stake in MGM Resorts International by 1,447.6% during the 3rd quarter. Boston Partners now owns 3,980,892 shares of the company’s stock valued at $145,916,000 after acquiring an additional 3,723,659 shares during the period. Qube Research & Technologies Ltd lifted its stake in MGM Resorts International by 544.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock valued at $73,364,000 after acquiring an additional 1,686,267 shares during the period. Finally, Amalgamated Bank lifted its stake in MGM Resorts International by 25.6% during the 3rd quarter. Amalgamated Bank now owns 104,028 shares of the company’s stock valued at $3,824,000 after acquiring an additional 21,185 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

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.