MGM Resorts International (NYSE:MGM) Given New $44.00 Price Target at Morgan Stanley

MGM Resorts International (NYSE:MGM) had its price objective hoisted by Morgan Stanley from $43.00 to $44.00 in a research report released on Tuesday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

MGM has been the subject of several other research reports. UBS Group upgraded MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Stifel Nicolaus boosted their price target on MGM Resorts International from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company cut their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Macquarie lowered their target price on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $53.64.

MGM Resorts International Trading Up 0.1 %

NYSE:MGM opened at $40.52 on Tuesday. The company has a market cap of $12.71 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 0.92 and a beta of 2.23. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The business has a 50 day moving average price of $38.30 and a two-hundred day moving average price of $40.38. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.65.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, topping 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 business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the company posted $0.59 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. As a group, analysts expect that MGM Resorts International will post 2.55 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, CEO William Hornbuckle purchased 58,900 shares of MGM Resorts International stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $33.73 per share, for a total transaction of $1,986,697.00. Following the purchase, the chief executive officer now directly owns 377,112 shares of the company’s stock, valued at $12,719,987.76. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other MGM Resorts International news, Director Paul J. Salem purchased 147,500 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the transaction, the director now owns 1,702,500 shares in the company, valued at approximately $57,544,500. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William Hornbuckle purchased 58,900 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $33.73 per share, with a total value of $1,986,697.00. Following the completion of the purchase, the chief executive officer now owns 377,112 shares of the company’s stock, valued at $12,719,987.76. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 216,400 shares of company stock worth $7,312,197. Company insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in MGM Resorts International during the 2nd quarter worth about $28,000. EverSource Wealth Advisors LLC raised its position in shares of MGM Resorts International by 60.7% during the first quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after acquiring an additional 329 shares during the last quarter. Eastern Bank acquired a new position in shares of MGM Resorts International in the third quarter worth approximately $35,000. UMB Bank n.a. boosted its holdings in MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after acquiring an additional 237 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in MGM Resorts International during the 2nd quarter valued at approximately $49,000. 68.11% of the stock is owned by institutional investors and hedge funds.

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.