Morgan Stanley Trims MGM Resorts International (NYSE:MGM) Target Price to $43.00

MGM Resorts International (NYSE:MGM) had its price objective lowered by Morgan Stanley from $44.00 to $43.00 in a research report released on Wednesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Macquarie reduced their target price on shares of MGM Resorts International from $58.00 to $55.00 and set an outperform rating on the stock in a research note on Friday, August 2nd. JMP Securities reduced their target price on shares of MGM Resorts International from $59.00 to $57.00 and set a market outperform rating on the stock in a research note on Thursday, August 1st. Wells Fargo & Company reduced their target price on shares of MGM Resorts International from $55.00 to $53.00 and set an overweight rating on the stock in a research note on Thursday, August 1st. StockNews.com downgraded shares of MGM Resorts International from a buy rating to a hold rating in a research note on Friday, May 10th. Finally, Susquehanna increased their target price on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a positive rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, MGM Resorts International currently has an average rating of Moderate Buy and a consensus target price of $53.93.

MGM Resorts International Price Performance

MGM stock opened at $35.01 on Wednesday. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.65. The company has a fifty day simple moving average of $40.41 and a two-hundred day simple moving average of $41.64. The firm has a market capitalization of $10.98 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 0.66 and a beta of 2.22.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the business earned $0.59 earnings per share. MGM Resorts International’s quarterly revenue was up 9.8% compared to the same quarter last year. Analysts anticipate that MGM Resorts International will post 2.75 earnings per share for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of the firm’s stock in a transaction dated 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 approximately $236,957,290.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other MGM Resorts International news, CFO Jonathan S. Halkyard bought 10,000 shares of the business’s stock in a transaction on Monday, August 5th. The shares were acquired at an average price of $34.00 per share, with a total value of $340,000.00. Following the transaction, the chief financial officer now owns 38,299 shares of the company’s stock, valued at approximately $1,302,166. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Keith A. Meister sold 139,300 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 5,859,478 shares in the company, valued at $236,957,290.32. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 216,400 shares of company stock valued at $7,312,197. Company insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

Institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of MGM Resorts International in the 2nd quarter valued at about $28,000. EverSource Wealth Advisors LLC boosted its holdings in shares of MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after buying an additional 329 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares in the last quarter. Accent Capital Management LLC bought a new stake in shares of MGM Resorts International in the 4th quarter valued at about $45,000. Finally, Mendota Financial Group LLC boosted its holdings in shares of MGM Resorts International by 36.0% in the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after buying an additional 266 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors.

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.