Stifel Nicolaus Issues Positive Forecast for MGM Resorts International (NYSE:MGM) Stock Price

MGM Resorts International (NYSE:MGM) had its target price lifted by analysts at Stifel Nicolaus from $47.00 to $50.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 45.60% from the company’s previous close.

MGM has been the topic of several other research reports. BTIG Research cut shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Jefferies Financial Group decreased their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Wells Fargo & Company dropped their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, January 16th. Finally, Capital One Financial increased their target price on MGM Resorts International from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and an average target price of $51.94.

MGM Resorts International Stock Performance

NYSE:MGM opened at $34.34 on Thursday. The stock has a 50-day moving average price of $34.25 and a 200 day moving average price of $36.81. The stock has a market capitalization of $10.22 billion, a P/E ratio of 12.26, a P/E/G ratio of 2.94 and a beta of 2.20. MGM Resorts International has a 12-month low of $31.61 and a 12-month high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. Equities research analysts forecast that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MGM. Norges Bank bought a new stake in shares of MGM Resorts International during the 4th quarter worth approximately $88,033,000. HG Vora Capital Management LLC bought a new stake in shares of MGM Resorts International during the third quarter worth $97,725,000. Goldentree Asset Management LP boosted its stake in shares of MGM Resorts International by 86.4% during the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares during the period. Davis Selected Advisers grew its holdings in shares of MGM Resorts International by 4.6% in the fourth quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock worth $690,253,000 after purchasing an additional 882,417 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of MGM Resorts International in the fourth quarter worth about $20,053,000. Institutional investors own 68.11% of the company’s stock.

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.