MGM Resorts International (NYSE:MGM) Price Target Increased to $57.00 by Analysts at JPMorgan Chase & Co.

MGM Resorts International (NYSE:MGM) had its price objective raised by JPMorgan Chase & Co. from $54.00 to $57.00 in a report published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also issued reports on MGM. Susquehanna upgraded shares of MGM Resorts International from a neutral rating to a positive rating and raised their target price for the company from $46.00 to $54.00 in a research note on Thursday. Bank Of America (Bofa) lifted their price target on MGM Resorts International from $45.00 to $50.00 and gave the stock a neutral rating in a research report on Wednesday, February 14th. StockNews.com downgraded shares of MGM Resorts International from a buy rating to a hold rating in a report on Monday, March 4th. JMP Securities reiterated a market outperform rating and issued a $57.00 price objective on shares of MGM Resorts International in a research report on Wednesday, February 14th. Finally, Barclays cut their target price on MGM Resorts International from $57.00 to $55.00 and set an overweight rating for the company in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $54.83.

MGM Resorts International Stock Down 0.5 %

MGM stock traded down $0.21 during trading hours on Thursday, hitting $40.83. The company’s stock had a trading volume of 2,179,956 shares, compared to its average volume of 3,901,370. The stock has a 50 day moving average price of $43.52 and a two-hundred day moving average price of $42.32. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $51.35. The company has a market capitalization of $12.81 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 0.95 and a beta of 2.22. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 1.56.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, equities research analysts expect that MGM Resorts International will post 2.76 earnings per share for the current year.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 325,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the transaction, the director now owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.83% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Davis Selected Advisers bought a new position in MGM Resorts International in the third quarter valued at about $361,915,000. Capital World Investors boosted its stake in shares of MGM Resorts International by 17.7% in the 4th quarter. Capital World Investors now owns 6,551,310 shares of the company’s stock valued at $292,713,000 after purchasing an additional 984,617 shares during the last quarter. Boston Partners grew its position in shares of MGM Resorts International by 36.3% during the 4th quarter. Boston Partners now owns 5,427,254 shares of the company’s stock worth $242,002,000 after buying an additional 1,446,362 shares during the period. Fisher Asset Management LLC raised its stake in shares of MGM Resorts International by 5.2% during the fourth quarter. Fisher Asset Management LLC now owns 4,357,344 shares of the company’s stock worth $194,686,000 after buying an additional 213,528 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in MGM Resorts International by 14.6% in the third quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock valued at $144,840,000 after acquiring an additional 500,566 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

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.