Barclays Issues Positive Forecast for MGM Resorts International (NYSE:MGM) Stock Price

MGM Resorts International (NYSE:MGM) had its price objective upped by Barclays from $45.00 to $47.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms also recently commented on MGM. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, January 16th. Susquehanna Bancshares upped their target price on MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday. Jefferies Financial Group reduced their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Capital One Financial lifted their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, BTIG Research lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.47.

MGM Resorts International Price Performance

NYSE MGM opened at $40.38 on Thursday. The company has a market capitalization of $12.02 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.94 and a beta of 2.20. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24. The stock has a 50-day moving average of $34.32 and a 200 day moving average of $36.83. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

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 return on equity of 25.84% and a net margin of 5.23%. On average, sell-side analysts forecast that MGM Resorts International will post 2.37 EPS for the current year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.13% of the stock is owned by company insiders.

Institutional Trading of MGM Resorts International

A number of hedge funds have recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. purchased a new stake in shares of MGM Resorts International during the third quarter worth approximately $28,000. Global Trust Asset Management LLC purchased a new position in MGM Resorts International during the 4th quarter worth $28,000. Assetmark Inc. lifted its stake in shares of MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after acquiring an additional 411 shares during the period. Eastern Bank purchased a new stake in shares of MGM Resorts International in the third quarter valued at about $35,000. Finally, Global Retirement Partners LLC increased 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 worth $43,000 after acquiring an additional 404 shares during the period. 68.11% of the stock is 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.