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

Shares of MGM Resorts International (NYSE:MGM) have been assigned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $51.29.

MGM has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Susquehanna Bancshares increased their target price on MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Argus upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Friday, February 14th. Morgan Stanley boosted their price objective on MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a research note on Monday, February 24th. Finally, Capital One Financial raised their target price on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th.

MGM Resorts International Stock Performance

NYSE:MGM opened at $29.39 on Friday. MGM Resorts International has a 1 year low of $25.30 and a 1 year high of $47.26. 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 business has a fifty day simple moving average of $32.64 and a two-hundred day simple moving average of $35.23. The company has a market capitalization of $8.32 billion, a P/E ratio of 12.25, a P/E/G ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data 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 return on equity of 21.08% and a net margin of 4.33%. On average, analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, 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 value of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares of the company’s stock, valued at $692,509.84. The trade was a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of MGM Resorts International stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the purchase, the chief financial officer now directly owns 75,648 shares of the company’s stock, valued at approximately $2,433,596.16. The trade was a 15.23 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Several institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of MGM Resorts International in the fourth quarter worth approximately $88,033,000. Eminence Capital LP bought a new stake in MGM Resorts International in the 4th quarter worth $72,408,000. AQR Capital Management LLC increased its position in shares of MGM Resorts International by 12,726.8% in the fourth quarter. AQR Capital Management LLC now owns 1,278,965 shares of the company’s stock valued at $44,316,000 after acquiring an additional 1,268,994 shares during the period. Marshall Wace LLP raised its stake in shares of MGM Resorts International by 50.9% during the fourth quarter. Marshall Wace LLP now owns 3,233,718 shares of the company’s stock valued at $112,048,000 after acquiring an additional 1,090,533 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of MGM Resorts International by 22.5% during the fourth quarter. Invesco Ltd. now owns 5,785,343 shares of the company’s stock worth $200,462,000 after purchasing an additional 1,063,707 shares during the period. 68.11% of the stock is currently owned by hedge funds and other 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.