MGM Resorts International (NYSE:MGM) Given New $50.00 Price Target at Citigroup

MGM Resorts International (NYSE:MGM) had its price target upped by Citigroup from $48.00 to $50.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. BTIG Research lowered shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Jefferies Financial Group dropped their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday. Barclays raised their price objective on shares of MGM Resorts International from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Susquehanna Bancshares raised their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.47.

MGM Resorts International Trading Up 17.5 %

NYSE:MGM opened at $40.38 on Thursday. The firm has a market cap of $12.02 billion, a P/E ratio of 14.42, a P/E/G ratio of 2.94 and a beta of 2.20. MGM Resorts International has a 52 week low of $31.61 and a 52 week high of $48.24. The firm’s fifty day moving average is $34.32 and its 200-day moving average is $36.83. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. Equities analysts expect that MGM Resorts International will post 2.37 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.13% of the stock is currently owned by corporate insiders.

Institutional Trading of MGM Resorts International

A number of large investors have recently added to or reduced their stakes in MGM. MidAtlantic Capital Management Inc. purchased a new stake in MGM Resorts International during the third quarter worth about $28,000. Global Trust Asset Management LLC purchased a new stake in MGM Resorts International during the fourth quarter worth about $28,000. Assetmark Inc. boosted its position in MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after purchasing an additional 411 shares during the period. Eastern Bank bought a new position in MGM Resorts International during the third quarter worth about $35,000. Finally, Global Retirement Partners LLC boosted its position in MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares during the period. 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.