Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for MGM Resorts International (NYSE:MGM) Stock

MGM Resorts International (NYSE:MGM) had its price target upped by analysts at Deutsche Bank Aktiengesellschaft from $43.00 to $44.00 in a report released on Thursday,MarketScreener reports. The firm presently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 29.01% from the company’s current price.

MGM has been the subject of several other research reports. JPMorgan Chase & Co. raised their price objective on shares of MGM Resorts International from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. The Goldman Sachs Group restated a “sell” rating and set a $33.00 price objective on shares of MGM Resorts International in a research note on Monday, December 15th. Truist Financial upped their target price on MGM Resorts International from $38.00 to $39.00 and gave the company a “hold” rating in a report on Friday, February 6th. Wells Fargo & Company boosted their price target on shares of MGM Resorts International from $29.00 to $31.00 and gave the stock an “underweight” rating in a report on Friday, January 16th. Finally, Susquehanna decreased their price target on shares of MGM Resorts International from $46.00 to $45.00 and set a “positive” rating for the company in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $41.94.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock traded down $0.09 during trading on Thursday, hitting $34.11. 4,017,370 shares of the stock were exchanged, compared to its average volume of 4,886,895. The company has a fifty day moving average price of $35.66 and a 200-day moving average price of $34.95. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $41.32. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 45.47 and a beta of 1.44. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 1.91.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, February 4th. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.96. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same period last year, the firm earned $0.45 earnings per share. As a group, equities analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Iac Inc. acquired 1,098,748 shares of the firm’s stock in a transaction on Friday, December 5th. The shares were purchased at an average cost of $36.30 per share, for a total transaction of $39,884,552.40. Following the transaction, the insider owned 65,822,350 shares of the company’s stock, valued at approximately $2,389,351,305. This represents a 1.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.06% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of institutional investors and hedge funds have recently bought and sold shares of MGM. CYBER HORNET ETFs LLC purchased a new position in shares of MGM Resorts International in the 2nd quarter valued at approximately $25,000. Mendota Financial Group LLC bought a new stake in shares of MGM Resorts International in the third quarter worth approximately $27,000. Global Retirement Partners LLC lifted its position in MGM Resorts International by 55.9% during the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock valued at $29,000 after purchasing an additional 281 shares during the period. Mather Group LLC. purchased a new stake in MGM Resorts International in the third quarter worth approximately $33,000. Finally, Elyxium Wealth LLC purchased a new stake in MGM Resorts International during the fourth quarter valued at $42,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Company Profile

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.