UBS Group Raises MGM Resorts International (NYSE:MGM) Price Target to $50.00

MGM Resorts International (NYSE:MGM) had its price objective upped by research analysts at UBS Group from $39.00 to $50.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective would suggest a potential upside of 3.07% from the company’s current price.

Several other equities research analysts have also commented on MGM. Barclays boosted their price target on shares of MGM Resorts International from $37.00 to $39.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. raised shares of MGM Resorts International from a “neutral” rating to an “overweight” rating and set a $46.00 price target on the stock in a research note on Wednesday, May 27th. Mizuho cut their price objective on shares of MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating for the company in a report on Monday, April 27th. Berenberg Bank reiterated a “buy” rating on shares of MGM Resorts International in a research report on Wednesday, February 11th. Finally, Capital One Financial raised their price target on shares of MGM Resorts International from $46.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $49.76.

MGM Resorts International Stock Performance

Shares of NYSE MGM opened at $48.51 on Thursday. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 1.93. The company has a 50 day simple moving average of $38.77 and a two-hundred day simple moving average of $36.61. MGM Resorts International has a 12 month low of $29.18 and a 12 month high of $51.59. The stock has a market cap of $12.41 billion, a price-to-earnings ratio of 67.58 and a beta of 1.31.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The company had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the prior year, the business posted $0.69 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. As a group, analysts predict that MGM Resorts International will post 2 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Daniel J. Taylor sold 6,675 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $38.44, for a total transaction of $256,587.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith A. Meister sold 37,500 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $34.27, for a total value of $1,285,125.00. Following the completion of the sale, the director directly owned 5,347,978 shares in the company, valued at approximately $183,275,206.06. The trade was a 0.70% decrease in their position. The SEC filing for this sale provides additional information. 3.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MGM Resorts International

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC lifted its position in shares of MGM Resorts International by 12.4% during the 1st quarter. Parallel Advisors LLC now owns 9,969 shares of the company’s stock worth $369,000 after purchasing an additional 1,102 shares during the last quarter. Optiver Holding B.V. purchased a new position in MGM Resorts International in the first quarter valued at $35,000. Glenmede Trust Co. NA increased its holdings in MGM Resorts International by 122.1% in the first quarter. Glenmede Trust Co. NA now owns 12,690 shares of the company’s stock valued at $470,000 after buying an additional 6,976 shares during the last quarter. Janus Henderson Group PLC raised its stake in MGM Resorts International by 8.3% in the first quarter. Janus Henderson Group PLC now owns 96,100 shares of the company’s stock valued at $3,556,000 after buying an additional 7,334 shares in the last quarter. Finally, Bull Harbor Capital LLC acquired a new stake in MGM Resorts International in the first quarter valued at $371,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting MGM Resorts International

Here are the key news stories impacting MGM Resorts International this week:

• Positive Sentiment: People Inc. proposed an $18 billion acquisition of MGM Resorts, offering $48.30 per share in cash and fueling takeover speculation around the casino operator. Barry Diller’s People Makes Move To Take Casino Giant MGM Private
• Positive Sentiment: Deutsche Bank raised its price target on MGM to $55 from $48 and kept a buy rating, signaling confidence in additional upside from current levels. MarketScreener
• Positive Sentiment: Market coverage highlighted MGM as one of the gaming stocks worth watching, citing improving online betting demand and strong Macau gaming trends. 4 Gaming Stocks Worth Watching Despite Industry Headwinds
• Neutral Sentiment: Several articles framed MGM as a top hotel, casino, and entertainment stock to watch, but these were broad industry roundups rather than company-specific catalysts. Top Hotel Stocks Worth Watching – June 1st
• Neutral Sentiment: Option activity picked up, with traders buying a high volume of MGM call options, suggesting rising speculative interest. Traders Buy High Volume of MGM Resorts International Call Options (NYSE:MGM)
• Negative Sentiment: Johnson Fistel launched an investigation into possible board fiduciary duty issues tied to the go-private proposal, adding legal and deal-risk uncertainty. Johnson Fistel Investigates Potential Board Fiduciary Duty Breaches at MGM Resorts International in Connection with Potential Go-Private Transaction

About MGM Resorts International

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.