Barclays Boosts MGM Resorts International (NYSE:MGM) Price Target to $47.00

MGM Resorts International (NYSE:MGM) had its price objective lifted by stock analysts at Barclays from $45.00 to $47.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 36.87% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Susquehanna Bancshares boosted their price target on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday. Capital One Financial increased their price target on MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday. Mizuho reduced their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Truist Financial dropped their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Jefferies Financial Group reduced their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.94.

MGM Resorts International Stock Up 0.2 %

NYSE:MGM opened at $34.34 on Thursday. The company has a market cap of $10.22 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 2.94 and a beta of 2.20. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The stock’s fifty day moving average price is $34.25 and its two-hundred day moving average price is $36.81. MGM Resorts International has a 52-week low of $31.61 and a 52-week high of $48.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts anticipate that MGM Resorts International will post 2.37 EPS for the current year.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.13% of the stock is owned by corporate insiders.

Institutional Trading of MGM Resorts International

Hedge funds and other institutional investors have recently made changes to their positions in the business. MidAtlantic Capital Management Inc. acquired a new position in MGM Resorts International during the third quarter worth $28,000. Global Trust Asset Management LLC bought a new stake in MGM Resorts International during the 4th quarter worth about $28,000. Assetmark Inc. boosted its stake in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after buying an additional 411 shares during the last quarter. Eastern Bank bought a new position in shares of MGM Resorts International in the 3rd quarter valued at about $35,000. Finally, Global Retirement Partners LLC increased its position in shares of MGM Resorts International by 47.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after acquiring an additional 404 shares during the last quarter. 68.11% of the stock is currently 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.