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

MGM Resorts International (NYSE:MGM) had its price target raised by equities researchers at Morgan Stanley from $39.00 to $41.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 15.25% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group decreased their target price 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. Leerink Partners cut MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Truist Financial reduced their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Needham & Company LLC 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 issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $51.29.

MGM Resorts International Price Performance

Shares of MGM stock opened at $35.58 on Monday. The business has a fifty day simple moving average of $34.56 and a 200 day simple moving average of $36.79. The company has a market cap of $10.16 billion, a P/E ratio of 14.82, a P/E/G ratio of 0.98 and a beta of 2.20. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping 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 fiscal year.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred on 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 of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. The trade was a 24.69 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.83% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of hedge funds have recently bought and sold shares of MGM. MidAtlantic Capital Management Inc. purchased a new stake in shares of MGM Resorts International during the 3rd quarter valued at $28,000. Global Trust Asset Management LLC purchased a new position in shares of MGM Resorts International during the 4th quarter valued at $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. True Wealth Design LLC purchased a new stake in shares of MGM Resorts International during the 4th quarter valued at approximately $33,000. Finally, Global Retirement Partners LLC grew its stake in 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 buying an additional 404 shares in the last quarter. 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.