MGM Resorts International (NYSE:MGM) PT Raised to $44.00 at Morgan Stanley

MGM Resorts International (NYSE:MGM) had its target price lifted by stock analysts at Morgan Stanley from $43.00 to $44.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 8.62% from the company’s current price.

A number of other brokerages have also issued reports on MGM. BTIG Research initiated coverage on shares of MGM Resorts International in a report on Wednesday, July 3rd. They set a “buy” rating and a $52.00 price objective for the company. Susquehanna increased their price objective on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. UBS Group upgraded MGM Resorts International to a “hold” rating in a research report on Friday, August 23rd. Finally, JMP Securities lowered their target price on MGM Resorts International from $57.00 to $56.00 and set a “market outperform” rating for the company in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and an average target price of $53.64.

MGM Resorts International Stock Performance

Shares of NYSE MGM traded up $0.03 during midday trading on Tuesday, hitting $40.51. 844,952 shares of the company’s stock traded hands, compared to its average volume of 4,059,025. MGM Resorts International has a 1 year low of $33.44 and a 1 year high of $48.24. The stock has a market capitalization of $12.71 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 0.92 and a beta of 2.23. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. The firm has a fifty day moving average of $38.25 and a 200 day moving average of $40.42.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.20. The company had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 EPS. On average, analysts forecast that MGM Resorts International will post 2.55 earnings per share for the current year.

Insider Activity

In other news, CEO William Hornbuckle purchased 58,900 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the completion of the purchase, the chief executive officer now owns 377,112 shares in the company, valued at approximately $12,719,987.76. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other MGM Resorts International news, Director Paul J. Salem purchased 147,500 shares of the stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $33.80 per share, with a total value of $4,985,500.00. Following the completion of the acquisition, the director now owns 1,702,500 shares in the company, valued at $57,544,500. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William Hornbuckle purchased 58,900 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $33.73 per share, with a total value of $1,986,697.00. Following the completion of the acquisition, the chief executive officer now directly owns 377,112 shares of the company’s stock, valued at $12,719,987.76. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 216,400 shares of company stock worth $7,312,197. Company insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MGM. UMB Bank n.a. increased its position in shares of MGM Resorts International by 33.3% during the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after purchasing an additional 237 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in MGM Resorts International by 0.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock worth $2,667,000 after purchasing an additional 245 shares during the period. Envestnet Portfolio Solutions Inc. increased its holdings in MGM Resorts International by 1.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock worth $1,018,000 after purchasing an additional 278 shares during the period. HB Wealth Management LLC increased its holdings in MGM Resorts International by 6.3% during the 2nd quarter. HB Wealth Management LLC now owns 4,917 shares of the company’s stock worth $219,000 after purchasing an additional 293 shares during the period. Finally, US Bancorp DE increased its holdings in shares of MGM Resorts International by 1.3% in the 1st quarter. US Bancorp DE now owns 23,558 shares of the company’s stock valued at $1,112,000 after acquiring an additional 298 shares during the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

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.