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

MGM Resorts International (NYSE:MGM) had its price objective raised by equities researchers at Wells Fargo & Company from $44.00 to $46.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 18.10% from the company’s current price.

A number of other research firms have also commented on MGM. 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. Mizuho raised their price objective on shares of MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research note on Thursday. Stifel Nicolaus raised their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, January 16th. Finally, BTIG Research downgraded shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MGM Resorts International has an average rating of “Moderate Buy” and an average target price of $51.88.

MGM Resorts International Price Performance

Shares of MGM traded up $4.58 during mid-day trading on Thursday, hitting $38.95. The company’s stock had a trading volume of 5,172,422 shares, compared to its average volume of 4,704,147. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a 50-day moving average price of $34.25 and a 200 day moving average price of $36.81. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24. The stock has a market capitalization of $11.60 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 2.94 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. On average, research analysts predict that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.13% of the stock is currently owned by corporate insiders.

Institutional Trading of MGM Resorts International

Several large investors have recently made changes to their positions in the company. CWM LLC lifted its holdings in shares of MGM Resorts International by 8.4% in the third quarter. CWM LLC now owns 10,984 shares of the company’s stock worth $429,000 after acquiring an additional 854 shares during the last quarter. Creative Planning lifted its stake in shares of MGM Resorts International by 8.4% in the 3rd quarter. Creative Planning now owns 77,682 shares of the company’s stock valued at $3,037,000 after purchasing an additional 6,040 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of MGM Resorts International by 37.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 20,426 shares of the company’s stock worth $798,000 after buying an additional 5,611 shares in the last quarter. nVerses Capital LLC boosted its stake in MGM Resorts International by 233.3% during the third quarter. nVerses Capital LLC now owns 21,000 shares of the company’s stock worth $821,000 after acquiring an additional 14,700 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of MGM Resorts International by 31.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 6,939 shares of the company’s stock valued at $271,000 after buying an additional 1,643 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

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.