MGM Resorts International (NYSE:MGM) Stock Price Expected to Rise, Barclays Analyst Says

MGM Resorts International (NYSE:MGM) had its price target raised by Barclays from $39.00 to $48.00 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 2.38% from the stock’s previous close.

Several other research analysts have also weighed in on MGM. Mizuho lowered their target price on shares of MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating on the stock in a research report on Monday, April 27th. UBS Group set a $48.00 price target on MGM Resorts International in a research note on Thursday, July 2nd. Capital One Financial upped their price target on MGM Resorts International from $46.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Deutsche Bank Aktiengesellschaft boosted their target price on MGM Resorts International from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of MGM Resorts International in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, MGM Resorts International currently has a consensus rating of “Hold” and a consensus price target of $52.02.

MGM Resorts International Stock Up 1.0%

Shares of MGM opened at $46.88 on Thursday. The stock has a fifty day simple moving average of $43.92 and a two-hundred day simple moving average of $38.96. MGM Resorts International has a 52-week low of $29.18 and a 52-week high of $51.59. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 1.93. The company has a market capitalization of $12.00 billion, a PE ratio of 65.12 and a beta of 1.29.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). MGM Resorts International had a return on equity of 24.43% and a net margin of 1.03%.The business had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the previous year, the firm earned $0.69 EPS. MGM Resorts International’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities analysts forecast that MGM Resorts International will post 1.95 EPS for the current year.

Insider Activity

In other news, Director Daniel J. Taylor sold 6,675 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $38.44, for a total transaction of $256,587.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On MGM Resorts International

Several large investors have recently added to or reduced their stakes in the business. CYBER HORNET ETFs LLC purchased a new position in shares of MGM Resorts International during the 2nd quarter worth about $25,000. Global Retirement Partners LLC grew its stake in shares of MGM Resorts International by 55.9% during the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock valued at $29,000 after buying an additional 281 shares during the period. International Assets Investment Management LLC acquired a new stake in MGM Resorts International during the first quarter worth about $30,000. Optiver Holding B.V. acquired a new stake in MGM Resorts International during the 1st quarter worth approximately $35,000. Finally, Elyxium Wealth LLC purchased a new position in shares of MGM Resorts International in the 4th quarter valued at $42,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

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.