MGM Resorts International (NYSE:MGM) Price Target Raised to $46.00

MGM Resorts International (NYSE:MGM) had its price objective lifted by investment analysts at Wells Fargo & Company from $44.00 to $46.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 15.53% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on MGM. Susquehanna Bancshares upped their price objective on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday. Truist Financial decreased their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. BTIG Research lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Mizuho upped their target price on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.47.

MGM Resorts International Price Performance

Shares of MGM stock opened at $39.82 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $11.85 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 2.94 and a beta of 2.20. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. The stock has a fifty day simple moving average of $34.38 and a two-hundred day simple moving average of $36.81.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. On average, analysts predict that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was 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 of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.13% of the stock is owned by corporate insiders.

Institutional Trading of MGM Resorts International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. acquired a new stake in MGM Resorts International during the third quarter worth about $28,000. Assetmark Inc. grew its holdings in MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after acquiring an additional 411 shares during the period. Global Trust Asset Management LLC purchased a new position in MGM Resorts International during the fourth quarter worth approximately $28,000. Eastern Bank purchased a new position in MGM Resorts International during the third quarter worth approximately $35,000. Finally, Brooklyn Investment Group purchased a new position in MGM Resorts International during the third quarter worth approximately $44,000. 68.11% of the stock is owned by institutional investors and hedge funds.

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.