MGM Resorts International (NYSE:MGM) PT Raised to $44.00 at Morgan Stanley

MGM Resorts International (NYSE:MGM) had its price target hoisted by stock analysts at Morgan Stanley from $43.00 to $44.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 11.00% from the stock’s previous close.

Several other equities research analysts have also issued reports on MGM. Macquarie lowered their price target 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 dropped their target price on MGM Resorts International from $57.00 to $56.00 and set a “market outperform” rating on the stock in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft decreased their price target on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. BTIG Research started coverage on MGM Resorts International in a research note on Wednesday, July 3rd. They set a “buy” rating and a $52.00 price objective on the stock. Finally, Wells Fargo & Company cut their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and a consensus target price of $54.08.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock opened at $39.64 on Tuesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.47 and a quick ratio of 1.42. The firm has a market cap of $12.43 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 0.92 and a beta of 2.23. The stock’s 50-day moving average is $38.33 and its 200-day moving average is $40.37. MGM Resorts International has a one year low of $33.44 and a one year high of $48.24.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.66 by $0.20. The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.59 EPS. Equities analysts predict that MGM Resorts International will post 2.55 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the completion of the sale, the director now directly owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO William Hornbuckle acquired 58,900 shares of the stock in a transaction on Monday, August 5th. The shares were purchased at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the transaction, the chief executive officer now directly owns 377,112 shares in the company, valued at approximately $12,719,987.76. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 216,400 shares of company stock worth $7,312,197. 2.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MGM. International Assets Investment Management LLC bought a new stake in shares of MGM Resorts International in the second quarter valued at approximately $28,000. EverSource Wealth Advisors LLC raised its holdings in 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 acquiring an additional 329 shares in the last quarter. Eastern Bank bought a new stake in shares of MGM Resorts International during the 3rd quarter valued at $35,000. UMB Bank n.a. grew its holdings in shares of MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after purchasing an additional 237 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of MGM Resorts International in the second quarter worth $49,000. 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.