MGM Resorts International (NYSE:MGM) Given New $47.00 Price Target at Barclays

MGM Resorts International (NYSE:MGM) had its price target hoisted by Barclays from $45.00 to $47.00 in a research report report published on Thursday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research analysts have also recently weighed in on the company. BTIG Research cut MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Morgan Stanley lifted their target price on shares of 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. JMP Securities reiterated a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a report on Thursday, January 16th. Truist Financial cut their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Susquehanna Bancshares increased their price objective on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and an average price target of $51.47.

MGM Resorts International Stock Performance

Shares of MGM opened at $40.38 on Thursday. 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 52-week low of $31.61 and a 52-week high of $48.24. The company has a 50-day simple moving average of $34.32 and a 200-day simple moving average of $36.83. The company has a market capitalization of $12.02 billion, a PE ratio of 14.42, a P/E/G ratio of 2.94 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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 research analysts predict that MGM Resorts International will post 2.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.13% of the stock is owned by insiders.

Institutional Trading of MGM Resorts International

Hedge funds and other institutional investors have recently modified their holdings of the business. Farringdon Capital Ltd. acquired a new stake in shares of MGM Resorts International in the fourth quarter worth about $691,000. Lodge Hill Capital LLC acquired a new position in MGM Resorts International during the 4th quarter valued at $9,529,000. Marshall Wace LLP grew its position in MGM Resorts International by 50.9% during the fourth quarter. Marshall Wace LLP now owns 3,233,718 shares of the company’s stock worth $112,048,000 after buying an additional 1,090,533 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of MGM Resorts International by 0.7% in the 4th quarter. Evergreen Capital Management LLC now owns 78,869 shares of the company’s stock worth $2,733,000 after acquiring an additional 556 shares during the period. Finally, Dodge & Cox acquired a new position in shares of MGM Resorts International in the fourth quarter valued at $537,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

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.