MGM Resorts International (NYSE:MGM) Price Target Increased to $63.00 by Analysts at Stifel Nicolaus

MGM Resorts International (NYSE:MGM) had its price objective hoisted by Stifel Nicolaus from $60.00 to $63.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. increased their target price on MGM Resorts International from $54.00 to $57.00 and gave the company an overweight rating in a report on Thursday, May 2nd. Wells Fargo & Company cut their target price on MGM Resorts International from $55.00 to $53.00 and set an overweight rating on the stock in a research report on Thursday. Mizuho increased their target price on MGM Resorts International from $61.00 to $62.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Barclays increased their price target on MGM Resorts International from $55.00 to $56.00 and gave the company an overweight rating in a report on Thursday, May 2nd. Finally, Susquehanna increased their price target on MGM Resorts International from $54.00 to $55.00 and gave the company a positive rating in a report on Thursday. Three equities research 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 currently has a consensus rating of Moderate Buy and an average target price of $54.97.

MGM Resorts International Stock Performance

NYSE MGM traded down $1.51 on Thursday, hitting $35.78. 6,108,103 shares of the company’s stock were exchanged, compared to its average volume of 3,843,810. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. The firm’s 50-day moving average price is $42.15 and its two-hundred day moving average price is $42.83. MGM Resorts International has a fifty-two week low of $34.12 and a fifty-two week high of $48.36. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of 14.34, a P/E/G ratio of 0.89 and a beta of 2.24.

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. MGM Resorts International had a return on equity of 25.67% and a net margin of 5.15%. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. On average, research analysts expect that MGM Resorts International will post 3 EPS for the current year.

Insider Activity at MGM Resorts International

In other news, Director Alexis Herman sold 4,344 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $41.50, for a total transaction of $180,276.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MGM Resorts International news, Director Alexis Herman sold 4,344 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $41.50, for a total value of $180,276.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith A. Meister sold 139,300 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $40.44, for a total value of $5,633,292.00. Following the completion of the sale, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The disclosure for this sale can be found here. Insiders sold a total of 147,988 shares of company stock valued at $5,991,759 over the last three months. 2.13% of the stock is owned by insiders.

Hedge Funds Weigh In On MGM Resorts International

A number of hedge funds have recently modified their holdings of MGM. Fisher Asset Management LLC boosted its holdings in MGM Resorts International by 4.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,346,250 shares of the company’s stock valued at $194,190,000 after acquiring an additional 202,434 shares during the period. Westfield Capital Management Co. LP lifted its stake in shares of MGM Resorts International by 21.0% in the fourth quarter. Westfield Capital Management Co. LP now owns 2,401,407 shares of the company’s stock valued at $107,295,000 after buying an additional 416,911 shares during the period. Gateway Investment Advisers LLC raised its position in MGM Resorts International by 41.2% in the first quarter. Gateway Investment Advisers LLC now owns 9,841 shares of the company’s stock worth $465,000 after purchasing an additional 2,872 shares in the last quarter. ACR Alpine Capital Research LLC acquired a new position in MGM Resorts International in the first quarter worth about $3,922,000. Finally, Texas Permanent School Fund Corp raised its position in MGM Resorts International by 0.4% in the first 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 in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Company Profile

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.