Susquehanna Bancshares Forecasts Strong Price Appreciation for MGM Resorts International (NYSE:MGM) Stock

MGM Resorts International (NYSE:MGM) had its price objective hoisted by investment analysts at Susquehanna Bancshares from $53.00 to $56.00 in a research report issued to clients and investors on Wednesday. Susquehanna Bancshares’ price target would suggest a potential upside of 38.68% from the stock’s current price.

MGM has been the topic of several other research reports. Jefferies Financial Group lowered their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley upped 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. Truist Financial lowered their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Wells Fargo & Company lowered their target price on shares of 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, BTIG Research cut shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.47.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock opened at $40.38 on Wednesday. The stock has a market cap of $12.02 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.94 and a beta of 2.20. The firm’s 50-day moving average is $34.32 and its 200 day moving average is $36.83. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. Sell-side analysts anticipate that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MGM Resorts International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farringdon Capital Ltd. purchased a new stake in MGM Resorts International in the 4th quarter worth approximately $691,000. Lodge Hill Capital LLC purchased a new stake in MGM Resorts International during the 4th quarter valued at approximately $9,529,000. Marshall Wace LLP grew its holdings in MGM Resorts International by 50.9% during the 4th 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 in the last quarter. Evergreen Capital Management LLC grew its holdings in MGM Resorts International by 0.7% during the 4th quarter. Evergreen Capital Management LLC now owns 78,869 shares of the company’s stock valued at $2,733,000 after buying an additional 556 shares in the last quarter. Finally, Dodge & Cox purchased a new stake in MGM Resorts International during the 4th quarter valued at approximately $537,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

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.