MGM Resorts International (NYSE:MGM) Price Target Increased to $44.00 by Analysts at Morgan Stanley

MGM Resorts International (NYSE:MGM) had its price objective upped by Morgan Stanley from $43.00 to $44.00 in a report published on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other analysts have also recently weighed in on MGM. Macquarie cut their price objective on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. BTIG Research started coverage on MGM Resorts International in a research report on Wednesday, July 3rd. They set a “buy” rating and a $52.00 target price on the stock. Wells Fargo & Company dropped their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Finally, Stifel Nicolaus boosted their price objective on MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.08.

MGM Resorts International Trading Up 1.2 %

Shares of NYSE MGM opened at $40.10 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 1.42 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $12.58 billion, a PE ratio of 15.42, a PEG ratio of 0.92 and a beta of 2.23. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The stock has a fifty day simple moving average of $38.35 and a 200-day simple moving average of $40.37.

MGM Resorts International (NYSE:MGM) last released its earnings results 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. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the business earned $0.59 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities analysts forecast that MGM Resorts International will post 2.55 earnings per share for the current year.

Insider Activity at MGM Resorts International

In other news, Director Paul J. Salem acquired 147,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $33.80 per share, for a total transaction of $4,985,500.00. Following the transaction, the director now directly owns 1,702,500 shares in the company, valued at $57,544,500. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul J. Salem bought 147,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $33.80 per share, with a total value of $4,985,500.00. Following the completion of the purchase, the director now owns 1,702,500 shares of the company’s stock, valued at approximately $57,544,500. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 216,400 shares of company stock worth $7,312,197 in the last 90 days. 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 the business. Gateway Investment Advisers LLC grew its stake in shares of MGM Resorts International by 41.2% in the 1st quarter. Gateway Investment Advisers LLC now owns 9,841 shares of the company’s stock valued at $465,000 after buying an additional 2,872 shares in the last quarter. ACR Alpine Capital Research LLC acquired a new position in shares of MGM Resorts International during the 1st quarter worth $3,922,000. Marshall Wace LLP raised its holdings in shares of MGM Resorts International by 174.8% during the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after purchasing an additional 706,159 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in shares of MGM Resorts International in the 2nd quarter valued at $1,211,000. Finally, Texas Permanent School Fund Corp boosted its holdings in MGM Resorts International by 0.4% in 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 in the last quarter. Institutional investors and hedge funds 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.