Barclays Trims MGM Resorts International (NYSE:MGM) Target Price to $54.00

MGM Resorts International (NYSE:MGM) had its target price trimmed by Barclays from $56.00 to $54.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts also recently commented on MGM. Stifel Nicolaus boosted their target price on shares of MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. UBS Group raised shares of MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. BTIG Research assumed coverage on shares of MGM Resorts International in a research report on Wednesday, July 3rd. They set a “buy” rating and a $52.00 target price for the company. Wells Fargo & Company decreased their target price on shares of MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Finally, Susquehanna boosted their target price on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.57.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $41.19 on Thursday. The firm’s 50-day moving average price is $38.19 and its 200-day moving average price is $40.54. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24. The firm has a market capitalization of $12.92 billion, a P/E ratio of 15.84, a P/E/G ratio of 0.92 and a beta of 2.23. The company has a current ratio of 1.47, a quick ratio of 1.42 and a debt-to-equity ratio of 1.65.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.20. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities research analysts anticipate that MGM Resorts International will post 2.55 earnings per share for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, the director now directly owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, the director now directly owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul J. Salem bought 147,500 shares of the company’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the purchase, the director now owns 1,702,500 shares of the company’s stock, valued at approximately $57,544,500. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 216,400 shares of company stock worth $7,312,197 over the last three months. 2.13% of the stock is currently owned by insiders.

Institutional Trading of MGM Resorts International

A number of institutional investors have recently modified their holdings of MGM. Goldentree Asset Management LP purchased a new stake in shares of MGM Resorts International during the 1st quarter valued at approximately $35,726,000. Marshall Wace LLP lifted its stake in shares of MGM Resorts International by 174.8% during the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after buying an additional 706,159 shares in the last quarter. Boston Partners lifted its stake in shares of MGM Resorts International by 12.6% during the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after buying an additional 684,676 shares in the last quarter. LSV Asset Management purchased a new stake in shares of MGM Resorts International during the 2nd quarter valued at approximately $21,149,000. Finally, Shellback Capital LP lifted its stake in shares of MGM Resorts International by 433.3% during the 2nd quarter. Shellback Capital LP now owns 400,000 shares of the company’s stock valued at $17,776,000 after buying an additional 325,000 shares in the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

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.