MGM Resorts International (NYSE:MGM) Price Target Raised to $55.00 at Susquehanna

MGM Resorts International (NYSE:MGM) had its price objective raised by Susquehanna from $54.00 to $55.00 in a research note released on Thursday, Benzinga reports. They currently have a positive rating on the stock.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their price target on shares of MGM Resorts International from $54.00 to $57.00 and gave the stock an overweight rating in a research report on Thursday, May 2nd. Morgan Stanley reduced their price target on shares of MGM Resorts International from $47.00 to $44.00 and set an equal weight rating on the stock in a research note on Friday, July 12th. Barclays increased their price objective on shares of MGM Resorts International from $55.00 to $56.00 and gave the company an overweight rating in a research note on Thursday, May 2nd. StockNews.com cut MGM Resorts International from a buy rating to a hold rating in a research note on Friday, May 10th. Finally, Mizuho boosted their price objective on MGM Resorts International from $61.00 to $62.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, MGM Resorts International presently has a consensus rating of Moderate Buy and an average target price of $54.97.

MGM Resorts International Price Performance

Shares of MGM opened at $37.29 on Thursday. The business’s 50-day moving average is $42.15 and its 200-day moving average is $42.83. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $49.63. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. The company has a market capitalization of $11.70 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 0.89 and a beta of 2.24.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. MGM Resorts International had a return on equity of 25.67% and a net margin of 5.15%. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the firm earned $0.59 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. Equities research analysts expect that MGM Resorts International will post 3 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, Director Alexis Herman sold 4,344 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $41.50, for a total value of $180,276.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Alexis Herman sold 4,344 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $41.50, for a total transaction of $180,276.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the sale, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,988 shares of company stock valued at $5,991,759. 2.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MGM Resorts International

A number of large investors have recently made changes to their positions in MGM. Capital World Investors grew its stake in MGM Resorts International by 17.7% in the fourth quarter. Capital World Investors now owns 6,551,310 shares of the company’s stock worth $292,713,000 after purchasing an additional 984,617 shares during the period. Boston Partners boosted its stake in MGM Resorts International by 12.6% during the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock worth $286,933,000 after acquiring an additional 684,676 shares in the last quarter. Fisher Asset Management LLC grew its holdings in MGM Resorts International by 5.2% in the fourth quarter. Fisher Asset Management LLC now owns 4,357,344 shares of the company’s stock worth $194,686,000 after purchasing an additional 213,528 shares during the period. Norges Bank purchased a new position in shares of MGM Resorts International during the fourth quarter valued at approximately $139,599,000. Finally, Westfield Capital Management Co. LP grew its stake in shares of MGM Resorts International by 21.0% in the 4th quarter. Westfield Capital Management Co. LP now owns 2,401,407 shares of the company’s stock worth $107,295,000 after buying an additional 416,911 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

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.