MGM Resorts International (NYSE:MGM) Price Target Cut to $50.00 by Analysts at JMP Securities

MGM Resorts International (NYSE:MGM) had its price objective lowered by JMP Securities from $54.00 to $50.00 in a research report report published on Monday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Several other brokerages also recently weighed in on MGM. Stifel Nicolaus raised their target price on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft dropped their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Mizuho reduced their target price on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Truist Financial lowered their price target on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Morgan Stanley upped their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.85.

MGM Resorts International Trading Up 1.4 %

Shares of NYSE MGM opened at $38.32 on Monday. MGM Resorts International has a 1-year low of $33.44 and a 1-year high of $48.24. The business has a fifty day moving average price of $38.64 and a 200 day moving average price of $39.71. The stock has a market capitalization of $11.41 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 2.70 and a beta of 2.23. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts expect that MGM Resorts International will post 2.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the sale, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Marshall Wace LLP increased its holdings in shares of MGM Resorts International by 174.8% during the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after purchasing an additional 706,159 shares in the last quarter. Maverick Capital Ltd. acquired a new position in shares of MGM Resorts International in the second quarter worth about $1,211,000. Empower Advisory Group LLC boosted its stake in shares of MGM Resorts International by 4.2% during the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after acquiring an additional 62,997 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of MGM Resorts International during the 2nd quarter valued at about $3,314,000. Finally, Boston Partners increased its stake in shares of MGM Resorts International by 12.6% in the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after purchasing an additional 684,676 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

About MGM Resorts International

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.