MGM Resorts International (NYSE:MGM) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

MGM Resorts International (NYSE:MGM) had its price objective lifted by Wells Fargo & Company from $44.00 to $46.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 15.53% from the company’s previous close.

MGM has been the topic of a number of other reports. Susquehanna Bancshares boosted their price target on MGM Resorts International from $53.00 to $56.00 in a report on Wednesday. Mizuho boosted their price target on MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday. BTIG Research downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Monday, February 3rd. Capital One Financial lifted their price objective on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, January 16th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and a consensus target price of $51.47.

MGM Resorts International Stock Down 1.4 %

MGM stock opened at $39.82 on Thursday. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The stock has a market cap of $11.85 billion, a P/E ratio of 14.22, a PEG ratio of 2.94 and a beta of 2.20. The business’s 50-day moving average price is $34.38 and its 200-day moving average price is $36.81.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. On average, equities research analysts forecast that MGM Resorts International will post 2.37 EPS for the current year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MGM Resorts International

Several hedge funds have recently bought and sold shares of the business. TD Waterhouse Canada Inc. grew its position in MGM Resorts International by 8.9% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,190 shares of the company’s stock valued at $111,000 after acquiring an additional 261 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in MGM Resorts International by 0.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after acquiring an additional 309 shares during the last quarter. Ballentine Partners LLC lifted its holdings in shares of MGM Resorts International by 5.4% in the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock worth $227,000 after buying an additional 333 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of MGM Resorts International by 1.7% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock worth $684,000 after buying an additional 333 shares during the period. Finally, Global Retirement Partners LLC lifted its holdings in shares of MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after buying an additional 404 shares during the period. Institutional investors 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.