Analysts Set MGM Resorts International (NYSE:MGM) Target Price at $51.29

MGM Resorts International (NYSE:MGM) has earned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $51.29.

A number of equities analysts have weighed in on MGM shares. Macquarie reaffirmed an “outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research note on Thursday, February 13th. BTIG Research downgraded shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Barclays reissued an “equal weight” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Wells Fargo & Company raised their price target on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Citigroup raised their price target on shares of MGM Resorts International from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 13th.

Insider Activity at MGM Resorts International

In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average cost of $32.17 per share, with a total value of $321,700.00. Following the purchase, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the transaction, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at approximately $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MGM Resorts International

Large investors have recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. purchased a new stake in MGM Resorts International in the 3rd quarter valued at about $28,000. Global Trust Asset Management LLC bought a new position in shares of MGM Resorts International during the fourth quarter valued at approximately $28,000. Assetmark Inc. boosted its stake in shares of MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after purchasing an additional 411 shares in the last quarter. True Wealth Design LLC bought a new position in shares of MGM Resorts International during the fourth quarter valued at approximately $33,000. Finally, Global Retirement Partners LLC boosted its stake in shares of MGM Resorts International by 47.8% during the fourth 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 in the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International Price Performance

MGM stock opened at $31.42 on Monday. MGM Resorts International has a 1 year low of $29.99 and a 1 year high of $48.25. The company has a market cap of $8.97 billion, a P/E ratio of 13.09, a PEG ratio of 0.98 and a beta of 2.18. The firm has a 50-day moving average of $34.02 and a 200 day moving average of $36.07. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share 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%. On average, sell-side analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.

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.