MGM Resorts International (NYSE:MGM) Price Target Raised to $56.00 at Barclays

MGM Resorts International (NYSE:MGM) had its target price raised by equities research analysts at Barclays from $55.00 to $56.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 37.12% from the company’s current price.

Several other research analysts have also recently issued reports on MGM. TheStreet raised shares of MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Macquarie reissued an “outperform” rating and issued a $58.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 14th. StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a report on Monday, March 4th. JMP Securities restated a “market outperform” rating and issued a $57.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. Finally, Bank Of America (Bofa) lifted their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.03.

MGM Resorts International Price Performance

MGM traded up $1.09 during trading hours on Thursday, hitting $40.84. The company’s stock had a trading volume of 4,994,823 shares, compared to its average volume of 3,886,373. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46. The business’s 50-day moving average price is $43.58 and its 200-day moving average price is $42.22. The stock has a market cap of $12.95 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 1.62 and a beta of 2.22. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $51.35.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.56 by $0.18. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. MGM Resorts International’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.44 earnings per share. Sell-side analysts expect that MGM Resorts International will post 2.46 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 325,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the sale, the director now directly owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Institutional investors and hedge funds have recently modified their holdings of the company. Regatta Capital Group LLC lifted its stake in MGM Resorts International by 1.8% in the fourth quarter. Regatta Capital Group LLC now owns 13,753 shares of the company’s stock worth $614,000 after acquiring an additional 247 shares during the last quarter. Mendota Financial Group LLC grew its holdings in shares of MGM Resorts International by 36.0% in the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after acquiring an additional 266 shares during the period. Lindbrook Capital LLC increased its stake in MGM Resorts International by 8.2% in the 1st quarter. Lindbrook Capital LLC now owns 3,550 shares of the company’s stock valued at $168,000 after purchasing an additional 268 shares in the last quarter. Sandy Spring Bank raised its holdings in MGM Resorts International by 33.7% during the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after purchasing an additional 288 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in MGM Resorts International by 2.4% during the third quarter. Fifth Third Bancorp now owns 12,173 shares of the company’s stock worth $447,000 after purchasing an additional 289 shares in the last quarter. Hedge funds and other institutional investors 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.