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

MGM Resorts International (NYSE:MGM) had its target price hoisted by investment analysts at Barclays from $55.00 to $56.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 36.45% from the company’s previous close.

Several other research firms also recently issued reports on MGM. JPMorgan Chase & Co. upped their price objective on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho upped their target price on MGM Resorts International from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on MGM Resorts International from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Bank Of America (Bofa) increased their price objective on MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Finally, StockNews.com downgraded shares of MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, MGM Resorts International presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.77.

MGM Resorts International Stock Up 0.4 %

MGM stock traded up $0.17 during trading on Thursday, hitting $41.04. 4,379,185 shares of the company’s stock were exchanged, compared to its average volume of 3,597,847. The business has a 50-day moving average price of $43.52 and a two-hundred day moving average price of $42.24. The company has a current ratio of 1.51, a quick ratio of 1.53 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $12.87 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.67 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.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.18. MGM Resorts International had a net margin of 5.35% and a return on equity of 23.62%. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the firm earned $0.44 EPS. The company’s revenue was up 13.2% compared to the same quarter last year. As a group, equities research analysts expect that MGM Resorts International will post 2.48 EPS for the current year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.13% of the stock is owned by insiders.

Institutional Trading of MGM Resorts International

A number of institutional investors have recently modified their holdings of MGM. CVA Family Office LLC purchased a new stake in MGM Resorts International during the fourth quarter worth about $28,000. Sandy Spring Bank grew its holdings in shares of MGM Resorts International by 140.8% in the 3rd quarter. Sandy Spring Bank now owns 855 shares of the company’s stock worth $31,000 after acquiring an additional 500 shares during the period. Sunbelt Securities Inc. increased its stake in MGM Resorts International by 510.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock valued at $44,000 after purchasing an additional 1,000 shares in the last quarter. Accent Capital Management LLC acquired a new position in MGM Resorts International during the fourth quarter worth $45,000. Finally, Mendota Financial Group LLC boosted its position in MGM Resorts International by 36.0% during the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after purchasing an additional 266 shares in the last quarter. 68.11% of the stock is currently owned by hedge funds and other 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.