MGM Resorts International (NYSE:MGM) Price Target Raised to $56.00 at Barclays

MGM Resorts International (NYSE:MGM) had its target price increased by Barclays from $55.00 to $56.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of MGM Resorts International from $45.00 to $46.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a buy rating in a report on Wednesday, February 14th. JMP Securities reissued a market outperform rating and set a $57.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 14th. StockNews.com cut shares of MGM Resorts International from a buy rating to a hold rating in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an overweight rating in a report on Thursday. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $54.77.

MGM Resorts International Trading Up 0.4 %

Shares of NYSE MGM opened at $41.04 on Thursday. The firm’s 50 day moving average price is $43.52 and its 200-day moving average price is $42.28. The company has a market cap of $12.87 billion, a PE ratio of 15.78, a P/E/G ratio of 1.68 and a beta of 2.22. MGM Resorts International has a 52-week low of $34.12 and a 52-week high of $51.35. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.53 and a current ratio of 1.51.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.18. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.24 billion. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The business’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. On average, equities research analysts expect that MGM Resorts International will post 2.76 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the transaction, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Fisher Asset Management LLC lifted its stake in shares of MGM Resorts International by 4.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,346,250 shares of the company’s stock valued at $194,190,000 after buying an additional 202,434 shares in the last quarter. RB Capital Management LLC lifted its stake in shares of MGM Resorts International by 6.6% during the 4th quarter. RB Capital Management LLC now owns 17,040 shares of the company’s stock valued at $761,000 after buying an additional 1,060 shares in the last quarter. Bamco Inc. NY lifted its stake in MGM Resorts International by 4.5% in the 3rd quarter. Bamco Inc. NY now owns 1,912,447 shares of the company’s stock worth $70,302,000 after purchasing an additional 82,134 shares in the last quarter. Black Swift Group LLC lifted its stake in MGM Resorts International by 133.3% in the 3rd quarter. Black Swift Group LLC now owns 105,000 shares of the company’s stock worth $3,860,000 after purchasing an additional 60,000 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in MGM Resorts International by 122.0% in the 4th quarter. Allworth Financial LP now owns 6,843 shares of the company’s stock worth $306,000 after purchasing an additional 3,760 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

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.