MGM Resorts International (NYSE:MGM) Given New $44.00 Price Target at Deutsche Bank Aktiengesellschaft

MGM Resorts International (NYSE:MGM) had its price objective raised by research analysts at Deutsche Bank Aktiengesellschaft from $43.00 to $44.00 in a note issued to investors on Thursday,MarketScreener reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 29.01% from the company’s previous close.

Other equities analysts have also issued reports about the company. Stifel Nicolaus upped their target price on MGM Resorts International from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, February 6th. Wells Fargo & Company boosted their price objective on shares of MGM Resorts International from $29.00 to $31.00 and gave the stock an “underweight” rating in a report on Friday, January 16th. UBS Group lowered their price target on MGM Resorts International from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Monday, November 17th. JPMorgan Chase & Co. lifted their target price on MGM Resorts International from $39.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. Finally, Texas Capital raised shares of MGM Resorts International to a “strong-buy” rating in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, MGM Resorts International presently has a consensus rating of “Hold” and an average target price of $41.94.

MGM Resorts International Stock Performance

Shares of NYSE MGM opened at $34.11 on Thursday. The company has a market capitalization of $8.73 billion, a P/E ratio of 45.47 and a beta of 1.44. MGM Resorts International has a one year low of $25.30 and a one year high of $41.32. The business’s 50-day moving average price is $35.66 and its two-hundred day moving average price is $34.95. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.23 and a quick ratio of 1.19.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.96. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. Analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other news, major shareholder Iac Inc. acquired 1,098,748 shares of the business’s stock in a transaction on Friday, December 5th. The shares were purchased at an average price of $36.30 per share, for a total transaction of $39,884,552.40. Following the completion of the purchase, the insider directly owned 65,822,350 shares of the company’s stock, valued at $2,389,351,305. This represents a 1.70% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.06% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. CYBER HORNET ETFs LLC purchased a new stake in shares of MGM Resorts International during the second quarter worth $25,000. Mendota Financial Group LLC acquired a new stake in shares of MGM Resorts International in the 3rd quarter valued at $27,000. Global Retirement Partners LLC boosted its holdings in MGM Resorts International by 55.9% in the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 281 shares in the last quarter. Mather Group LLC. bought a new position in MGM Resorts International during the third quarter valued at about $33,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of MGM Resorts International in the fourth quarter worth about $42,000. 68.11% of the stock is currently owned by institutional investors.

MGM Resorts International Company Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.