Deutsche Bank analyst Carlo Santarelli maintained a Hold rating on MGM Resorts (MGM) today and set a price target of $34.00. The company’s shares closed last Monday at $27.87.
According to TipRanks.com, Santarelli is a 5-star analyst with an average return of 8.2% and a 60.9% success rate. Santarelli covers the Services sector, focusing on stocks such as International Game Technology, Hilton Worldwide Holdings Inc, and Marriott International.
MGM Resorts has an analyst consensus of Moderate Buy, with a price target consensus of $34.29, implying a 23.0% upside from current levels. In a report released today, Morgan Stanley also maintained a Hold rating on the stock.
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Based on MGM Resorts’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $44.4 million. In comparison, last year the company had a net profit of $139 million.
Based on the recent corporate insider activity of 42 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
