Barclays Increases MGM Resorts International (NYSE:MGM) Price Target to $47.00

MGM Resorts International (NYSE:MGM) had its price objective increased by Barclays from $45.00 to $47.00 in a report released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also issued reports on MGM. Jefferies Financial Group decreased their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Morgan Stanley boosted their target price on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company dropped their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Truist Financial decreased their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Susquehanna Bancshares raised their target price on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.47.

MGM Resorts International Trading Down 1.4 %

NYSE:MGM opened at $39.82 on Thursday. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 2.94 and a beta of 2.20. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The business’s 50-day moving average price is $34.38 and its two-hundred day moving average price is $36.77. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. On average, equities analysts expect that MGM Resorts International will post 2.37 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MGM. CWM LLC boosted its holdings in shares of MGM Resorts International by 8.4% in the 3rd quarter. CWM LLC now owns 10,984 shares of the company’s stock valued at $429,000 after buying an additional 854 shares during the last quarter. Creative Planning raised its position in MGM Resorts International by 8.4% during the third quarter. Creative Planning now owns 77,682 shares of the company’s stock worth $3,037,000 after acquiring an additional 6,040 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in MGM Resorts International by 37.9% in the third quarter. Vontobel Holding Ltd. now owns 20,426 shares of the company’s stock valued at $798,000 after acquiring an additional 5,611 shares during the last quarter. nVerses Capital LLC grew its position in shares of MGM Resorts International by 233.3% in the 3rd quarter. nVerses Capital LLC now owns 21,000 shares of the company’s stock valued at $821,000 after acquiring an additional 14,700 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in shares of MGM Resorts International by 31.0% during the 3rd quarter. V Square Quantitative Management LLC now owns 6,939 shares of the company’s stock worth $271,000 after purchasing an additional 1,643 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

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.