MGM Resorts International (NYSE:MGM) Price Target Raised to $43.00 at Morgan Stanley

MGM Resorts International (NYSE:MGM) had its price target lifted by Morgan Stanley from $41.00 to $43.00 in a report published on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other equities analysts have also commented on MGM. Susquehanna lifted their price objective on MGM Resorts International from $50.00 to $60.00 and gave the stock a “positive” rating in a research note on Tuesday, July 29th. Stifel Nicolaus upped their price target on MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. JPMorgan Chase & Co. assumed coverage on MGM Resorts International in a report on Monday, June 23rd. They set a “neutral” rating and a $38.00 price target for the company. UBS Group reduced their price objective on MGM Resorts International from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Truist Financial upped their price target on MGM Resorts International from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.67.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $35.36 on Thursday. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $42.53. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 1.67. The business’s 50-day moving average price is $37.12 and its two-hundred day moving average price is $33.74. The stock has a market cap of $9.62 billion, a PE ratio of 19.43, a P/E/G ratio of 1.52 and a beta of 1.69.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, July 30th. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.21. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.28 billion. MGM Resorts International had a return on equity of 19.39% and a net margin of 3.13%.The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 earnings per share. As a group, analysts expect that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 242,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the transaction, the director directly owned 5,385,478 shares in the company, valued at approximately $190,753,630.76. This represents a 4.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.06% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

Institutional investors and hedge funds have recently bought and sold shares of the stock. CYBER HORNET ETFs LLC bought a new position in MGM Resorts International during the 2nd quarter worth approximately $25,000. Mascagni Wealth Management Inc. purchased a new position in MGM Resorts International during the fourth quarter valued at $28,000. Golden State Wealth Management LLC raised its stake in MGM Resorts International by 83.5% during the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $30,000 after buying an additional 455 shares during the last quarter. CX Institutional bought a new stake in shares of MGM Resorts International in the 1st quarter worth $36,000. Finally, Bayforest Capital Ltd bought a new stake in shares of MGM Resorts International in the 1st quarter worth $43,000. 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.