MGM Resorts International (NYSE:MGM) Price Target Cut to $46.00 by Analysts at Barclays

MGM Resorts International (NYSE:MGM) had its price objective cut by Barclays from $50.00 to $46.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently commented on the stock. Truist Financial reduced their target price on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. UBS Group raised shares of MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Morgan Stanley upped their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, JMP Securities decreased their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a research report on Monday, November 25th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $52.54.

MGM Resorts International Stock Down 1.5 %

MGM Resorts International stock opened at $36.25 on Friday. MGM Resorts International has a twelve month low of $33.44 and a twelve month high of $48.24. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The company has a 50 day moving average of $38.37 and a 200-day moving average of $39.36. The stock has a market capitalization of $10.79 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the firm earned $0.64 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that MGM Resorts International will post 2.48 EPS for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of institutional investors have recently modified their holdings of MGM. Fisher Asset Management LLC lifted its position in MGM Resorts International by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock worth $177,777,000 after purchasing an additional 90,645 shares during the period. Goldentree Asset Management LP raised its position in MGM Resorts International by 86.4% during the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares in the last quarter. HG Vora Capital Management LLC bought a new position in shares of MGM Resorts International in the 3rd quarter valued at $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of MGM Resorts International by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock worth $89,832,000 after buying an additional 123,124 shares in the last quarter. Finally, FMR LLC lifted its position in shares of MGM Resorts International by 5.0% during the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company’s stock worth $65,738,000 after buying an additional 79,486 shares during the last quarter. 68.11% of the stock is currently 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.