Susquehanna Bancshares Forecasts Strong Price Appreciation for MGM Resorts International (NYSE:MGM) Stock

MGM Resorts International (NYSE:MGM) had its target price hoisted by Susquehanna Bancshares from $53.00 to $56.00 in a research note released on Wednesday.

Other analysts also recently issued research reports about the stock. Morgan Stanley raised their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. JMP Securities reissued a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a report on Thursday, January 16th. Mizuho cut their target price on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Barclays reduced their price target on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Finally, Jefferies Financial Group cut their price objective on 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. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $52.44.

MGM Resorts International Price Performance

MGM opened at $34.34 on Wednesday. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. The firm has a market cap of $10.22 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 2.94 and a beta of 2.20. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The company has a fifty day simple moving average of $34.25 and a 200 day simple moving average of $36.81.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping 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%. Equities research analysts expect that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Insider Activity at MGM Resorts International

In related 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 transaction of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.13% of the stock is currently owned by insiders.

Institutional Trading of MGM Resorts International

Several institutional investors have recently modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new stake in MGM Resorts International in the 3rd quarter valued at about $28,000. Global Trust Asset Management LLC bought a new position in shares of MGM Resorts International in the fourth quarter valued at $28,000. Assetmark Inc. lifted its position in shares of MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after acquiring an additional 411 shares during the last quarter. Eastern Bank acquired a new position in shares of MGM Resorts International in the 3rd quarter worth $35,000. Finally, Global Retirement Partners LLC raised its position in shares of MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

About MGM Resorts International

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.