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

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

A number of other brokerages have also recently commented on MGM. JPMorgan Chase & Co. increased their price target on MGM Resorts International from $54.00 to $57.00 and gave the company an overweight rating in a research note on Thursday. Mizuho increased their price target on MGM Resorts International from $61.00 to $62.00 and gave the company a buy rating in a research note on Thursday. Bank Of America (Bofa) increased their price target on MGM Resorts International from $45.00 to $50.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. Morgan Stanley increased their price target on MGM Resorts International from $45.00 to $46.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. Finally, Macquarie reiterated an outperform rating and issued a $58.00 price target on shares of MGM Resorts International in a research note on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $54.77.

MGM Resorts International Trading Up 0.4 %

Shares of MGM stock opened at $41.04 on Thursday. The stock’s fifty day moving average price is $43.52 and its two-hundred 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 fifty-two week low of $34.12 and a fifty-two 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 for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the business posted $0.44 EPS. The company’s revenue was up 13.2% compared to the same quarter last year. Equities analysts predict that MGM Resorts International will post 2.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction dated 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 completion of the sale, the director now directly owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its holdings in MGM Resorts International by 4.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,346,250 shares of the company’s stock worth $194,190,000 after buying an additional 202,434 shares during the last quarter. RB Capital Management LLC boosted its stake in 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 purchasing an additional 1,060 shares during the last quarter. Bamco Inc. NY increased its holdings in MGM Resorts International by 4.5% during 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 raised its stake in shares of MGM Resorts International by 133.3% in the third 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 during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of MGM Resorts International by 122.0% in the fourth quarter. Allworth Financial LP now owns 6,843 shares of the company’s stock valued at $306,000 after purchasing an additional 3,760 shares in the last quarter. 68.11% of the stock is 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.