MGM Resorts International (NYSE:MGM) Price Target Raised to $41.00 at Morgan Stanley

MGM Resorts International (NYSE:MGM) had its price objective hoisted by equities research analysts at Morgan Stanley from $39.00 to $41.00 in a report released on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 12.57% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Leerink Partners cut shares of MGM Resorts International to a “market perform” rating in a research report on Thursday, February 13th. JMP Securities restated a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a report on Thursday, February 13th. Argus upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Friday, February 14th. Macquarie restated an “outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Stifel Nicolaus lifted their price target on MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Stock Up 1.2 %

MGM Resorts International stock opened at $36.42 on Monday. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24. The firm has a market capitalization of $10.40 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 0.98 and a beta of 2.20. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The stock’s fifty day moving average is $34.53 and its two-hundred day moving average is $36.81.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 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%. Analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now directly 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 document filed with the SEC, which is accessible through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction on 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 transaction, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. This trade represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

Several hedge funds have recently bought and sold shares of MGM. TD Waterhouse Canada Inc. raised its holdings in shares of MGM Resorts International by 8.9% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,190 shares of the company’s stock worth $111,000 after acquiring an additional 261 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in MGM Resorts International by 0.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after acquiring an additional 309 shares during the last quarter. Ballentine Partners LLC grew its position in shares of MGM Resorts International by 5.4% in the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock valued at $227,000 after acquiring an additional 333 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of MGM Resorts International by 1.7% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock worth $684,000 after purchasing an additional 333 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after purchasing an additional 404 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

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.