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

MGM Resorts International (NYSE:MGM) had its price target hoisted by equities research analysts at Barclays from $45.00 to $47.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 36.87% from the stock’s previous close.

MGM has been the topic of a number of other research reports. Morgan Stanley increased their price objective on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Capital One Financial increased their price target on MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday. Susquehanna Bancshares lifted their price target on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday. BTIG Research lowered shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Finally, Mizuho cut their target price on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.94.

MGM Resorts International Stock Performance

Shares of MGM opened at $34.34 on Thursday. The firm has a market cap of $10.22 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of 2.94 and a beta of 2.20. The company’s fifty day moving average is $34.25 and its 200-day moving average is $36.81. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data 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%. Equities analysts expect that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Insider Activity

In other news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MGM Resorts International by 0.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock worth $2,080,000 after buying an additional 309 shares during the period. Ballentine Partners LLC lifted its holdings in shares of MGM Resorts International by 5.4% during the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock valued at $227,000 after acquiring an additional 333 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of MGM Resorts International by 1.7% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock valued at $684,000 after purchasing an additional 333 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in shares of MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after purchasing an additional 411 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

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.