MGM Resorts International (NYSE:MGM) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

MGM Resorts International (NYSE:MGM) had its target price upped by research analysts at Deutsche Bank Aktiengesellschaft from $48.00 to $55.00 in a research report issued on Tuesday,MarketScreener reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 11.54% from the company’s current price.

Several other equities research analysts have also recently issued reports on MGM. Barclays boosted their price objective on shares of MGM Resorts International from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Truist Financial raised MGM Resorts International from a “hold” rating to a “buy” rating and increased their price objective for the stock from $42.00 to $55.00 in a research note on Wednesday, May 27th. Wells Fargo & Company raised their price objective on MGM Resorts International from $30.00 to $33.00 and gave the stock an “underweight” rating in a report on Thursday, April 30th. The Goldman Sachs Group lifted their target price on MGM Resorts International from $34.00 to $38.00 and gave the company a “sell” rating in a research report on Thursday, April 30th. Finally, Citigroup lowered their target price on MGM Resorts International from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $49.12.

MGM Resorts International Trading Up 12.9%

NYSE:MGM traded up $5.64 during mid-day trading on Tuesday, hitting $49.31. 27,676,440 shares of the stock traded hands, compared to its average volume of 4,821,489. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 1.93. MGM Resorts International has a 52 week low of $29.18 and a 52 week high of $51.59. The stock has a market capitalization of $12.62 billion, a price-to-earnings ratio of 70.18 and a beta of 1.28. The firm’s 50 day moving average is $38.28 and its two-hundred day moving average is $36.39.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, April 29th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the prior year, the company posted $0.69 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts predict that MGM Resorts International will post 1.99 earnings per share for the current year.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 37,500 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the completion of the sale, the director directly owned 5,347,978 shares in the company, valued at $183,275,206.06. This represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Iac Inc. acquired 550,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were bought at an average cost of $37.30 per share, for a total transaction of $20,515,000.00. Following the transaction, the insider owned 66,372,350 shares of the company’s stock, valued at $2,475,688,655. This represents a 0.84% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 3.38% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

A number of large investors have recently made changes to their positions in MGM. AQR Capital Management LLC grew its stake in MGM Resorts International by 202.5% during the 3rd quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock worth $292,772,000 after buying an additional 5,654,757 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in MGM Resorts International by 81.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock valued at $264,874,000 after buying an additional 3,429,946 shares during the last quarter. Davis Selected Advisers increased its stake in shares of MGM Resorts International by 12.0% in the fourth quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock worth $978,669,000 after acquiring an additional 2,866,750 shares during the period. Norges Bank acquired a new stake in MGM Resorts International during the 4th quarter worth about $82,348,000. Finally, Samlyn Capital LLC acquired a new position in shares of MGM Resorts International in the 3rd quarter valued at about $62,787,000. 68.11% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting MGM Resorts International

Here are the key news stories impacting MGM Resorts International this week:

• Positive Sentiment: People Inc. confirmed it wants to take MGM private with a $48.30-per-share cash offer, creating a direct acquisition premium and driving takeover speculation. MGM Resorts International Confirms Receipt of Acquisition Proposal from People Incorporated
• Positive Sentiment: Analysts and event-driven investors are suggesting the bid may be too low, raising the odds of a higher offer and keeping momentum in the shares strong. MGM Stock Is Already Trading Above Barry Diller’s $48.30 Bid — Analyst Says Board Should Ask For Even More
• Neutral Sentiment: MGM’s board said it will carefully review the proposal, so the deal is not yet agreed and could still change materially. MGM Resorts International Confirms Receipt of Acquisition Proposal from People Incorporated
• Negative Sentiment: The offer is non-binding, so People Inc. can walk away or face financing, regulatory, or deal-approval hurdles if negotiations progress. People Inc. Offers to Buy Rest of MGM Resorts, Valuing Company at $18 Billion

About MGM Resorts International

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.