MGM Resorts International (NYSE:MGM) Given New $41.00 Price Target at Morgan Stanley

MGM Resorts International (NYSE:MGM) had its target price raised by Morgan Stanley from $39.00 to $41.00 in a research report report published on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other analysts have also recently weighed in on MGM. Truist Financial reduced their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Citigroup increased 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 note on Thursday, February 13th. Jefferies Financial Group dropped their price target 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. Capital One Financial increased their price target on shares of MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, February 12th. Finally, Susquehanna Bancshares increased their price target on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MGM Resorts International has an average rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Stock Up 0.9 %

Shares of NYSE:MGM opened at $36.32 on Monday. The firm’s 50 day moving average price is $34.55 and its 200 day moving average price is $36.80. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of 15.13, a price-to-earnings-growth ratio of 0.98 and a beta of 2.20. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24. 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 (NYSE:MGM) last issued its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, equities research analysts predict that MGM Resorts International will post 2.21 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 51,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the sale, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the firm’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 approximately $692,509.84. This trade represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. 2.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriflex Group Inc. acquired a new position in shares of MGM Resorts International during the 4th quarter worth $484,000. Neo Ivy Capital Management acquired a new position in shares of MGM Resorts International during the 4th quarter worth $3,715,000. Fourth Dimension Wealth LLC acquired a new position in shares of MGM Resorts International during the 4th quarter worth $115,000. Vise Technologies Inc. acquired a new position in shares of MGM Resorts International during the 4th quarter worth $211,000. Finally, PharVision Advisers LLC acquired a new position in shares of MGM Resorts International during the 4th quarter worth $212,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

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.