MGM Resorts International (NYSE:MGM) Price Target Increased to $56.00 by Analysts at Barclays

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

MGM has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft increased their target price 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. JMP Securities reiterated a market outperform rating and issued a $57.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 14th. TheStreet upgraded shares of MGM Resorts International from a c+ rating to a b- rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. increased their price target on shares of MGM Resorts International from $54.00 to $57.00 and gave the stock an overweight rating in a research note on Thursday. Finally, StockNews.com cut shares of MGM Resorts International from a buy rating to a hold rating in a research report on Monday, March 4th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, MGM Resorts International has a consensus rating of Moderate Buy and an average price target of $54.77.

MGM Resorts International Trading Up 0.4 %

MGM Resorts International stock traded up $0.17 during mid-day trading on Thursday, reaching $41.04. 4,379,185 shares of the company traded hands, compared to its average volume of 3,597,847. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.53. MGM Resorts International has a 52-week low of $34.12 and a 52-week high of $51.35. The firm has a market capitalization of $12.87 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 1.67 and a beta of 2.22. The firm’s 50 day moving average price is $43.52 and its 200 day moving average price is $42.24.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the company earned $0.44 earnings per share. MGM Resorts International’s quarterly revenue was up 13.2% on a year-over-year basis. On average, analysts anticipate that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the transaction, the director now owns 6,098,778 shares in the company, valued at $261,637,576.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of large investors have recently made changes to their positions in MGM. CVA Family Office LLC purchased a new stake in MGM Resorts International in the fourth quarter worth approximately $28,000. Sandy Spring Bank lifted its holdings in shares of MGM Resorts International by 140.8% during the 3rd quarter. Sandy Spring Bank now owns 855 shares of the company’s stock valued at $31,000 after buying an additional 500 shares during the period. Sunbelt Securities Inc. boosted its stake in shares of MGM Resorts International by 510.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock worth $44,000 after buying an additional 1,000 shares during the last quarter. Accent Capital Management LLC bought a new stake in shares of MGM Resorts International in the fourth quarter worth $45,000. Finally, Mendota Financial Group LLC grew its holdings in shares of MGM Resorts International by 36.0% in the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after acquiring an additional 266 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.