MGM Resorts International (NYSE:MGM) Stock Price Expected to Rise, Morgan Stanley Analyst Says

MGM Resorts International (NYSE:MGM - Get Free Report) had its target price increased by research analysts at Morgan Stanley from $37.00 to $38.00 in a report issued on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price target suggests a potential upside of 0.16% from the company's previous close.

Other equities analysts have also issued reports about the company. JMP Securities reiterated a "market perform" rating on shares of MGM Resorts International in a research note on Thursday, June 26th. Citizens Jmp lowered MGM Resorts International from an "outperform" rating to a "market perform" rating in a research note on Thursday, June 26th. Susquehanna increased their target price on MGM Resorts International from $45.00 to $50.00 and gave the company a "positive" rating in a research note on Thursday, May 1st. Stifel Nicolaus increased their target price on MGM Resorts International from $44.00 to $48.00 and gave the company a "buy" rating in a research note on Friday. Finally, Citigroup upgraded MGM Resorts International from a "hold" rating to a "strong-buy" rating and increased their target price for the company from $55.00 to $57.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $47.67.

MGM Resorts International Price Performance

Shares of NYSE:MGM traded down $0.90 on Friday, hitting $37.94. The company had a trading volume of 4,342,604 shares, compared to its average volume of 4,955,687. The company has a current ratio of 1.31, a quick ratio of 1.26 and a debt-to-equity ratio of 1.79. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $47.26. The business has a 50 day moving average of $33.73 and a 200 day moving average of $33.00. The company has a market cap of $10.33 billion, a PE ratio of 16.94, a PEG ratio of 2.64 and a beta of 1.76.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.19. The business had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.29 billion. MGM Resorts International had a return on equity of 20.64% and a net margin of 3.95%. The business's revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 earnings per share. As a group, equities analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

MGM Resorts International declared that its board has approved a share repurchase program on Wednesday, April 30th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 22.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other MGM Resorts International news, COO Corey Ian Sanders sold 40,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $34.43, for a total transaction of $1,377,200.00. Following the transaction, the chief operating officer owned 281,530 shares of the company's stock, valued at $9,693,077.90. This trade represents a 12.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel J. Taylor sold 5,261 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $34.93, for a total value of $183,766.73. The disclosure for this sale can be found here. Insiders have sold a total of 105,261 shares of company stock valued at $3,486,367 in the last quarter. Insiders own 3.06% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Assetmark Inc. lifted its holdings in shares of 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. Proficio Capital Partners LLC bought a new stake in shares of MGM Resorts International in the 4th quarter worth approximately $2,053,000. Raymond James Financial Inc. bought a new stake in shares of MGM Resorts International in the 4th quarter worth approximately $20,053,000. Amundi lifted its holdings in shares of MGM Resorts International by 207.5% in the 4th quarter. Amundi now owns 836,144 shares of the company's stock worth $27,334,000 after purchasing an additional 564,202 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of MGM Resorts International by 2.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,581 shares of the company's stock worth $1,891,000 after purchasing an additional 1,381 shares during the last quarter. Institutional investors 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.