MGM Resorts International (NYSE:MGM) Stock Price Expected to Rise, UBS Group Analyst Says

MGM Resorts International (NYSE:MGM - Get Free Report) had its price objective hoisted by investment analysts at UBS Group from $37.00 to $42.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's target price indicates a potential upside of 10.70% from the company's previous close.

A number of other analysts also recently commented on the stock. Morgan Stanley dropped their price target on shares of MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Macquarie dropped their price target on shares of MGM Resorts International from $50.00 to $48.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Susquehanna boosted their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a "positive" rating in a report on Thursday, May 1st. Barclays boosted their target price on shares of MGM Resorts International from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Finally, Stifel Nicolaus dropped their target price on shares of MGM Resorts International from $50.00 to $44.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, MGM Resorts International presently has an average rating of "Moderate Buy" and an average target price of $47.67.

MGM Resorts International Price Performance

Shares of MGM stock traded down $0.90 during midday trading on Tuesday, reaching $37.94. 4,342,604 shares of the company were exchanged, compared to its average volume of 4,955,687. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $47.26. The company has a market cap of $10.33 billion, a P/E ratio of 16.94, a PEG ratio of 2.64 and a beta of 1.76. The company's 50 day moving average price is $33.73 and its two-hundred day moving average price is $33.00. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.26 and a current ratio of 1.31.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.19. MGM Resorts International had a net margin of 3.95% and a return on equity of 20.64%. The company had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the previous year, the firm earned $0.74 EPS. MGM Resorts International's revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts expect that MGM Resorts International will post 2.21 earnings per share for the current year.

MGM Resorts International declared that its Board of Directors has approved a share buyback plan on Wednesday, April 30th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 22.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 60,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $32.09, for a total value of $1,925,400.00. Following the completion of the sale, the director directly owned 5,627,478 shares of the company's stock, valued at $180,585,769.02. The trade was a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel J. Taylor sold 5,261 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $34.93, for a total transaction of $183,766.73. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,261 shares of company stock valued at $3,486,367. Corporate insiders own 3.06% of the company's stock.

Institutional Trading of MGM Resorts International

Several large investors have recently added to or reduced their stakes in the business. Assetmark Inc. lifted its holdings in MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after purchasing an additional 411 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of MGM Resorts International during the fourth quarter valued at about $28,000. True Wealth Design LLC bought a new stake in shares of MGM Resorts International in the 4th quarter worth approximately $33,000. Golden State Wealth Management LLC lifted its position in shares of MGM Resorts International by 83.5% in the 1st quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company's stock worth $30,000 after acquiring an additional 455 shares during the period. Finally, CX Institutional acquired a new position in shares of MGM Resorts International in the 1st quarter worth approximately $36,000. 68.11% of the stock is 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.