MGM Resorts International (NYSE:MGM) Given New $57.00 Price Target at JPMorgan Chase & Co.

MGM Resorts International (NYSE:MGM) had its price target upped by JPMorgan Chase & Co. from $54.00 to $57.00 in a report published on Thursday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also recently issued reports on MGM. Mizuho increased their price objective on MGM Resorts International from $61.00 to $62.00 and gave the company a buy rating in a research note on Thursday. Barclays reduced their price objective on MGM Resorts International from $57.00 to $55.00 and set an overweight rating on the stock in a research note on Wednesday, February 14th. Bank Of America (Bofa) increased their price objective on MGM Resorts International from $45.00 to $50.00 and gave the company a neutral rating in a research note on Wednesday, February 14th. StockNews.com cut MGM Resorts International from a buy rating to a hold rating in a research note on Monday, March 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on MGM Resorts International from $50.00 to $52.00 and gave the company a buy rating in a research note on Wednesday, February 14th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $54.77.

MGM Resorts International Trading Up 0.4 %

NYSE:MGM traded up $0.17 during trading hours on Thursday, reaching $41.04. 4,379,185 shares of the stock were exchanged, compared to its average volume of 3,597,847. The company has a quick ratio of 1.53, a current ratio of 1.51 and a debt-to-equity ratio of 1.56. The business has a 50-day moving average of $43.52 and a two-hundred day moving average of $42.24. MGM Resorts International has a twelve month low of $34.12 and a twelve month high of $51.35. The company has a market capitalization of $12.87 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.67 and a beta of 2.22.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The company had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the firm earned $0.44 earnings per share. The firm’s revenue was up 13.2% compared to the same quarter last year. On average, equities analysts predict that MGM Resorts International will post 2.48 EPS for the current year.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the transaction, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

A number of institutional investors and hedge funds have recently made changes to their positions in MGM. CVA Family Office LLC acquired a new position in shares of MGM Resorts International during the 4th quarter worth $28,000. Sandy Spring Bank grew its stake in shares of MGM Resorts International by 140.8% during the 3rd quarter. Sandy Spring Bank now owns 855 shares of the company’s stock worth $31,000 after purchasing an additional 500 shares during the period. Sunbelt Securities Inc. grew its stake in MGM Resorts International by 510.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,196 shares of the company’s stock valued at $44,000 after acquiring an additional 1,000 shares during the last quarter. Accent Capital Management LLC acquired a new stake in MGM Resorts International in the 4th quarter valued at about $45,000. Finally, Mendota Financial Group LLC grew its stake in MGM Resorts International by 36.0% in the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after acquiring an additional 266 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

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.