MGM Resorts International (NYSE:MGM) Price Target Raised to $56.00 at Susquehanna Bancshares

MGM Resorts International (NYSE:MGM) had its price objective raised by stock analysts at Susquehanna Bancshares from $53.00 to $56.00 in a research note issued to investors on Wednesday. Susquehanna Bancshares’ price objective would suggest a potential upside of 63.08% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Wells Fargo & Company decreased their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Truist Financial decreased their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a report on Thursday, January 16th. Morgan Stanley upped their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group reduced their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.20.

MGM Resorts International Stock Up 0.2 %

MGM Resorts International stock traded up $0.07 during trading hours on Wednesday, hitting $34.34. The company had a trading volume of 6,780,664 shares, compared to its average volume of 4,664,021. The firm has a market capitalization of $10.22 billion, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 2.94 and a beta of 2.20. 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’s fifty day moving average is $34.31 and its 200-day moving average is $36.83. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on 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 transaction, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. acquired a new position in shares of MGM Resorts International in the third quarter valued at about $28,000. Global Trust Asset Management LLC acquired a new position in shares of MGM Resorts International in the fourth quarter valued at about $28,000. Assetmark Inc. grew its stake in shares of MGM Resorts International by 104.1% in the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after acquiring an additional 411 shares in the last quarter. Eastern Bank acquired a new position in shares of MGM Resorts International in the third quarter valued at about $35,000. Finally, Global Retirement Partners LLC grew its stake in shares of MGM Resorts International by 47.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after acquiring an additional 404 shares in the last quarter. 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.