MGM Resorts International (NYSE:MGM – Get Rating) had its price objective boosted by Morgan Stanley from $40.00 to $43.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the stock.
Several other brokerages have also commented on MGM. Deutsche Bank Aktiengesellschaft decreased their price target on MGM Resorts International from $51.00 to $49.00 in a research note on Thursday, November 3rd. Truist Financial raised MGM Resorts International from a hold rating to a buy rating and increased their target price for the stock from $40.00 to $50.00 in a research note on Monday, December 5th. Wells Fargo & Company increased their target price on MGM Resorts International from $53.00 to $54.00 and gave the stock an overweight rating in a research note on Wednesday, January 25th. JPMorgan Chase & Co. increased their target price on MGM Resorts International from $47.00 to $48.00 and gave the stock an overweight rating in a research note on Thursday, November 3rd. Finally, Credit Suisse Group decreased their target price on MGM Resorts International from $72.00 to $67.00 and set an outperform rating on the stock in a research note on Thursday, November 3rd. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $50.89.
Get MGM Resorts International alerts:MGM Resorts International Stock Up 0.8 %
MGM Resorts International stock opened at $41.71 on Wednesday. The stock has a market capitalization of $16.02 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 11.29 and a beta of 2.06. MGM Resorts International has a 12 month low of $26.41 and a 12 month high of $49.00. The business has a 50 day simple moving average of $37.17 and a 200-day simple moving average of $34.82. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.49 and a quick ratio of 1.47.
MGM Resorts International (NYSE:MGM – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($1.39) EPS for the quarter, missing the consensus estimate of $0.22 by ($1.61). MGM Resorts International had a net margin of 10.48% and a negative return on equity of 5.12%. The business had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.26 billion. On average, analysts anticipate that MGM Resorts International will post 1.27 EPS for the current fiscal year.Insider Activity
In other news, Director Rose Mckinney-James sold 5,741 shares of the stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $37.50, for a total value of $215,287.50. Following the transaction, the director now owns 5,740 shares in the company, valued at approximately $215,250. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Corey Ian Sanders sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $42.00, for a total transaction of $1,260,000.00. Following the transaction, the chief operating officer now owns 201,498 shares in the company, valued at approximately $8,462,916. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rose Mckinney-James sold 5,741 shares of the firm's stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $37.50, for a total value of $215,287.50. Following the transaction, the director now owns 5,740 shares in the company, valued at approximately $215,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 258,611 shares of company stock worth $10,404,462. 2.13% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. purchased a new position in MGM Resorts International during the 3rd quarter worth approximately $1,034,000. Heritage Wealth Management LLC acquired a new stake in MGM Resorts International during the 2nd quarter worth approximately $25,000. McElhenny Sheffield Capital Management LLC acquired a new stake in MGM Resorts International during the 4th quarter worth approximately $34,000. Tobam acquired a new stake in MGM Resorts International during the 4th quarter worth approximately $34,000. Finally, Accurate Wealth Management LLC acquired a new stake in MGM Resorts International during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 82.77% of the company's stock.
About MGM Resorts International
(Get Rating)
MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. The firm's casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China.
Recommended Stories
- Get a free copy of the StockNews.com research report on MGM Resorts International (MGM)
- Are Penny Stocks Worth it? Should You Invest in Penny Stocks?
- Zimmer Biomet Beats on Earnings, Growth May be Priced In
- AI Software Maker EPAM Boasts Biggest Tech-Sector Rally
- Ford Stock Going Forward After Big Earnings Flop
- Insiders And Institutions Buy Wolverine Worldwide
Receive News & Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related companies with MarketBeat.com's FREE daily email newsletter.