MGM Resorts International (NYSE:MGM) Price Target Increased to $63.00 by Analysts at Stifel Nicolaus

MGM Resorts International (NYSE:MGM) had its price target boosted by Stifel Nicolaus from $60.00 to $63.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also weighed in on MGM. Barclays raised their price objective on shares of MGM Resorts International from $55.00 to $56.00 and gave the stock an overweight rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an overweight rating in a report on Thursday, May 2nd. Susquehanna lifted their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a positive rating in a report on Thursday. StockNews.com lowered shares of MGM Resorts International from a buy rating to a hold rating in a report on Friday, May 10th. Finally, JMP Securities lifted their price target on shares of MGM Resorts International from $58.00 to $59.00 and gave the company a market outperform rating in a report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $54.97.

MGM Resorts International Stock Down 4.0 %

MGM traded down $1.51 during trading hours on Thursday, reaching $35.78. 6,108,103 shares of the stock traded hands, compared to its average volume of 3,843,810. The firm’s fifty day simple moving average is $42.15 and its two-hundred day simple moving average is $42.83. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 0.89 and a beta of 2.24. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $48.36. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.20. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 25.67%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the business earned $0.59 EPS. As a group, analysts forecast that MGM Resorts International will post 3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 139,300 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $40.44, for a total value of $5,633,292.00. Following the sale, the director now directly owns 5,859,478 shares in the company, valued at approximately $236,957,290.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $41.50, for a total value of $180,276.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the transaction, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The disclosure for this sale can be found here. Insiders have sold 147,988 shares of company stock worth $5,991,759 in the last ninety days. 2.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MGM Resorts International

Several large investors have recently bought and sold shares of MGM. Norges Bank acquired a new position in shares of MGM Resorts International in the 4th quarter valued at $139,599,000. Boston Partners grew its holdings in shares of MGM Resorts International by 36.3% in the 4th quarter. Boston Partners now owns 5,427,254 shares of the company’s stock worth $242,002,000 after purchasing an additional 1,446,362 shares during the last quarter. Capital World Investors grew its holdings in shares of MGM Resorts International by 17.7% in the 4th quarter. Capital World Investors now owns 6,551,310 shares of the company’s stock worth $292,713,000 after purchasing an additional 984,617 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of MGM Resorts International by 112.1% in the 4th quarter. Hsbc Holdings PLC now owns 1,505,982 shares of the company’s stock worth $67,466,000 after purchasing an additional 795,920 shares during the last quarter. Finally, Goldentree Asset Management LP bought a new stake in shares of MGM Resorts International in the 1st quarter worth about $35,726,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

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.