MGM Resorts International (NYSE:MGM) PT Raised to $57.00

MGM Resorts International (NYSE:MGM) had its target price hoisted by analysts at JPMorgan Chase & Co. from $54.00 to $57.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 38.89% from the stock’s previous close.

MGM has been the subject of a number of other research reports. StockNews.com lowered MGM Resorts International from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Mizuho boosted their price target on shares of MGM Resorts International from $61.00 to $62.00 and gave the company a “buy” rating in a report on Thursday. Bank Of America (Bofa) raised their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 14th. TheStreet upgraded shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.77.

MGM Resorts International Price Performance

Shares of NYSE MGM traded up $0.17 during midday trading on Thursday, reaching $41.04. The company’s stock had a trading volume of 4,379,185 shares, compared to its average volume of 3,597,847. MGM Resorts International has a one year low of $34.12 and a one year high of $51.35. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 1.67 and a beta of 2.22. The company has a 50 day moving average price of $43.52 and a 200 day moving average price of $42.24. The company has a current ratio of 1.51, a quick ratio of 1.53 and a debt-to-equity ratio of 1.56.

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

Insider Buying and Selling

In related news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction 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 completion of the sale, the director now owns 6,098,778 shares of the company’s stock, valued at approximately $261,637,576.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MGM. Regatta Capital Group LLC raised its holdings in MGM Resorts International by 1.8% in the 4th 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 period. Mendota Financial Group LLC increased its stake in shares of MGM Resorts International by 36.0% in the first quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after purchasing an additional 266 shares during the period. Lindbrook Capital LLC lifted its position in shares of MGM Resorts International by 8.2% during the 1st quarter. Lindbrook Capital LLC now owns 3,550 shares of the company’s stock worth $168,000 after purchasing an additional 268 shares during the last quarter. Sandy Spring Bank boosted its stake in MGM Resorts International by 33.7% during the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock valued at $51,000 after purchasing an additional 288 shares during the period. Finally, Fifth Third Bancorp grew its holdings in MGM Resorts International by 2.4% in the 3rd quarter. Fifth Third Bancorp now owns 12,173 shares of the company’s stock valued at $447,000 after buying an additional 289 shares during the last quarter. Institutional investors and hedge funds 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.