Morgan Stanley Issues Positive Forecast for MGM Resorts International (NYSE:MGM) Stock Price

MGM Resorts International (NYSE:MGM) had its price target increased by Morgan Stanley from $39.00 to $41.00 in a report published on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

MGM has been the subject of a number of other reports. Citigroup increased their price target on MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Stifel Nicolaus lifted their price target on MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Leerink Partners downgraded MGM Resorts International to a “market perform” rating in a research note on Thursday, February 13th. Barclays reaffirmed an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group reiterated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.29.

MGM Resorts International Stock Down 1.1 %

MGM opened at $35.13 on Monday. The stock’s 50 day moving average price is $34.59 and its 200 day moving average price is $36.78. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The stock has a market cap of $10.03 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.98 and a beta of 2.20. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, research analysts predict that MGM Resorts International will post 2.21 earnings per share for the current year.

Insider Activity

In other news, Director Keith A. Meister sold 51,000 shares of the business’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 transaction, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. The trade was a 24.69 % decrease in their position. The disclosure for this sale can be found here. 2.83% of the stock is owned by company insiders.

Institutional Trading of MGM Resorts International

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. boosted its stake in MGM Resorts International by 120.6% during the third quarter. Blue Trust Inc. now owns 1,348 shares of the company’s stock worth $53,000 after buying an additional 737 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of MGM Resorts International by 6,902.6% during the 3rd quarter. International Assets Investment Management LLC now owns 43,626 shares of the company’s stock valued at $1,705,000 after acquiring an additional 43,003 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in MGM Resorts International by 37.7% in the third quarter. Assenagon Asset Management S.A. now owns 198,664 shares of the company’s stock valued at $7,766,000 after acquiring an additional 54,355 shares during the period. Lake Street Advisors Group LLC raised its position in MGM Resorts International by 13.5% in the third quarter. Lake Street Advisors Group LLC now owns 5,242 shares of the company’s stock worth $205,000 after purchasing an additional 623 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in MGM Resorts International by 50.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,037 shares of the company’s stock worth $715,000 after purchasing an additional 6,085 shares during the period. 68.11% of the stock is currently owned by institutional investors.

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.