Deutsche Bank analyst Carlo Santarelli maintained a Hold rating on MGM Resorts (MGM) on September 17 and set a price target of $34. The company’s shares closed last Monday at $29.51.
According to TipRanks.com, Santarelli is a 5-star analyst with an average return of 8.6% and a 62.3% success rate. Santarelli covers the Services sector, focusing on stocks such as International Game Technology, Hilton Worldwide Holdings Inc, and Marriott International.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MGM Resorts with a $33.75 average price target, implying a 14.2% upside from current levels. In a report issued on September 17, Morgan Stanley also maintained a Hold rating on the stock with a $31 price target.
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MGM Resorts’ market cap is currently $15.39B and has a P/E ratio of 85.31. The company has a Price to Book ratio of 2.38.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MGM in relation to earlier this year.
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MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. The firm’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China.
