MGM Resorts International (NYSE:MGM) Given New $44.00 Price Target at Deutsche Bank Aktiengesellschaft

MGM Resorts International (NYSE:MGM) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $43.00 to $44.00 in a research note published on Thursday,MarketScreener reports. They currently have a buy rating on the stock.

MGM has been the topic of a number of other reports. Barclays set a $37.00 target price on shares of MGM Resorts International in a research note on Friday, February 6th. Mizuho set a $62.00 price target on MGM Resorts International in a report on Thursday, October 30th. Argus reduced their price objective on MGM Resorts International from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Truist Financial lifted their target price on MGM Resorts International from $38.00 to $39.00 and gave the company a “hold” rating in a research report on Friday, February 6th. Finally, Capital One Financial dropped their price target on MGM Resorts International from $47.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, December 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.94.

MGM Resorts International Stock Performance

MGM stock opened at $34.11 on Thursday. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $41.32. The firm has a market cap of $8.73 billion, a price-to-earnings ratio of 45.47 and a beta of 1.44. The business’s fifty day simple moving average is $35.66 and its two-hundred day simple moving average is $34.95. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 1.91.

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

Insider Activity

In related news, major shareholder Iac Inc. purchased 1,098,748 shares of MGM Resorts International stock in a transaction dated Friday, December 5th. The stock was purchased at an average cost of $36.30 per share, with a total value of $39,884,552.40. Following the transaction, the insider owned 65,822,350 shares in the company, valued at approximately $2,389,351,305. The trade was a 1.70% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.06% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

Several institutional investors and hedge funds have recently added to or reduced their stakes in MGM. Helikon Investments Ltd raised its position in shares of MGM Resorts International by 379.9% in the 2nd quarter. Helikon Investments Ltd now owns 8,810,322 shares of the company’s stock valued at $302,987,000 after purchasing an additional 6,974,347 shares during the last quarter. AQR Capital Management LLC increased 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 valued at $292,772,000 after purchasing an additional 5,654,757 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in MGM Resorts International by 81.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock valued at $264,874,000 after purchasing an additional 3,429,946 shares in the last quarter. Davis Selected Advisers raised its holdings in shares of MGM Resorts International by 14.4% in the second quarter. Davis Selected Advisers now owns 23,821,109 shares of the company’s stock worth $819,208,000 after buying an additional 3,006,052 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of MGM Resorts International during the fourth quarter worth $82,348,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

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.