MGM Resorts International (NYSE:MGM) PT Raised to $31.00

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MGM Resorts International (NYSE:MGM) had its price target increased by UBS Group from $30.00 to $31.00 in a research note issued on Wednesday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target would suggest a potential upside of 8.73% from the stock’s previous close.

Several other brokerages also recently weighed in on MGM. Susquehanna Bancshares began coverage on MGM Resorts International in a research report on Wednesday, July 24th. They set a “negative” rating and a $23.00 price objective for the company. Nomura upped their price objective on MGM Resorts International from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Deutsche Bank set a $32.00 price objective on MGM Resorts International and gave the stock a “hold” rating in a research report on Friday, July 26th. Citigroup began coverage on MGM Resorts International in a research report on Wednesday, July 24th. They set a $23.00 price objective for the company. Finally, Morgan Stanley upped their price objective on MGM Resorts International from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. MGM Resorts International currently has a consensus rating of “Hold” and a consensus price target of $31.00.

Shares of MGM stock opened at $28.51 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.73 and a debt-to-equity ratio of 1.39. MGM Resorts International has a twelve month low of $21.61 and a twelve month high of $31.68. The company has a market cap of $15.02 billion, a P/E ratio of 39.47, a P/E/G ratio of 4.28 and a beta of 1.42. The business has a fifty day simple moving average of $29.00 and a 200 day simple moving average of $27.50.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). MGM Resorts International had a return on equity of 3.77% and a net margin of 1.56%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter in the prior year, the company earned $0.26 earnings per share. MGM Resorts International’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, equities research analysts anticipate that MGM Resorts International will post 0.84 earnings per share for the current fiscal year.

In other news, Director Keith A. Meister bought 81,249 shares of the company’s stock in a transaction on Monday, June 24th. The stock was purchased at an average cost of $27.99 per share, for a total transaction of $2,274,159.51. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith A. Meister bought 1,139,138 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was purchased at an average price of $25.82 per share, with a total value of $29,412,543.16. The disclosure for this purchase can be found here. Insiders acquired 5,317,360 shares of company stock valued at $140,880,100 over the last quarter. Corporate insiders own 3.47% of the company’s stock.

Hedge funds have recently modified their holdings of the company. First Personal Financial Services acquired a new stake in shares of MGM Resorts International in the first quarter valued at about $26,000. Patriot Financial Group Insurance Agency LLC increased its stake in shares of MGM Resorts International by 3,000.0% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 930 shares of the company’s stock valued at $27,000 after buying an additional 900 shares during the period. Quadrant Capital Group LLC increased its stake in shares of MGM Resorts International by 94.3% in the first quarter. Quadrant Capital Group LLC now owns 1,259 shares of the company’s stock valued at $29,000 after buying an additional 611 shares during the period. Rational Advisors LLC increased its stake in shares of MGM Resorts International by 1,113.8% in the first quarter. Rational Advisors LLC now owns 1,323 shares of the company’s stock valued at $34,000 after buying an additional 1,214 shares during the period. Finally, Thor Advisors LLC acquired a new stake in shares of MGM Resorts International in the first quarter valued at about $35,000. 81.27% of the stock is owned by institutional investors.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau. 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.

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Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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