MGM Resorts International (NYSE:MGM) Given New $56.00 Price Target at Susquehanna Bancshares

MGM Resorts International (NYSE:MGM) had its price target lifted by Susquehanna Bancshares from $53.00 to $56.00 in a report released on Wednesday.

A number of other research analysts have also issued reports on the stock. Barclays dropped their price target on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Truist Financial dropped their target price on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. BTIG Research cut MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Wells Fargo & Company decreased 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, Morgan Stanley increased their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and an average price target of $52.44.

MGM Resorts International Stock Performance

Shares of MGM stock opened at $34.34 on Wednesday. The stock’s 50-day moving average price is $34.25 and its 200 day moving average price 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. The stock has a market capitalization of $10.22 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 2.94 and a beta of 2.20. MGM Resorts International has a 52-week low of $31.61 and a 52-week high of $48.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. As a group, equities research analysts forecast that MGM Resorts International will post 2.37 EPS for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Davis Selected Advisers raised its stake in MGM Resorts International by 4.6% during the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock worth $690,253,000 after purchasing an additional 882,417 shares during the period. Fisher Asset Management LLC lifted its stake in shares of MGM Resorts International by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after purchasing an additional 90,645 shares in the last quarter. Goldentree Asset Management LP grew its holdings in shares of MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after purchasing an additional 1,390,599 shares during the period. Norges Bank acquired a new stake in MGM Resorts International during the 4th quarter worth approximately $88,033,000. Finally, HG Vora Capital Management LLC purchased a new position in MGM Resorts International in the third quarter valued at approximately $97,725,000. 68.11% of the stock is currently 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.