MGM Resorts International (NYSE:MGM) Price Target Raised to $48.00 at Barclays

MGM Resorts International (NYSE:MGM) had its price objective boosted by Barclays from $39.00 to $48.00 in a report issued on Thursday, MarketBeat reports. Barclays currently has an equal weight rating on the stock.

Several other research firms have also weighed in on MGM. JPMorgan Chase & Co. increased their target price on shares of MGM Resorts International from $46.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Capital One Financial boosted their price target on shares of MGM Resorts International from $46.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Citigroup upped their price objective on shares of MGM Resorts International from $40.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, July 2nd. Truist Financial raised MGM Resorts International from a “hold” rating to a “buy” rating and raised their price objective for the stock from $42.00 to $55.00 in a research note on Wednesday, May 27th. Finally, UBS Group set a $48.00 target price on MGM Resorts International in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $52.02.

MGM Resorts International Trading Down 0.3%

NYSE MGM opened at $46.45 on Thursday. MGM Resorts International has a 12 month low of $29.18 and a 12 month high of $51.59. The stock has a 50-day simple moving average of $43.76 and a 200 day simple moving average of $38.91. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 1.93. The company has a market capitalization of $11.88 billion, a PE ratio of 64.51 and a beta of 1.29.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter last year, the business posted $0.69 EPS. MGM Resorts International’s quarterly revenue was up 4.2% on a year-over-year basis. Research analysts forecast that MGM Resorts International will post 1.95 EPS for the current year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Daniel J. Taylor sold 6,675 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $38.44, for a total value of $256,587.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.38% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of hedge funds and other institutional investors have recently made changes to their positions in MGM. Chemistry Wealth Management LLC grew its position in MGM Resorts International by 23.2% in the second quarter. Chemistry Wealth Management LLC now owns 34,181 shares of the company’s stock valued at $1,634,000 after purchasing an additional 6,435 shares in the last quarter. Czech National Bank lifted its position in MGM Resorts International by 4.5% during the 2nd quarter. Czech National Bank now owns 54,619 shares of the company’s stock worth $2,611,000 after buying an additional 2,364 shares in the last quarter. Mirador Capital Partners LP bought a new stake in MGM Resorts International during the 2nd quarter worth about $2,405,000. GAMMA Investing LLC boosted its stake in shares of MGM Resorts International by 9.6% during the 2nd quarter. GAMMA Investing LLC now owns 17,080 shares of the company’s stock worth $817,000 after buying an additional 1,500 shares during the last quarter. Finally, CX Institutional boosted its stake in shares of MGM Resorts International by 7.6% during the 2nd quarter. CX Institutional now owns 11,264 shares of the company’s stock worth $539,000 after buying an additional 791 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

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.