MGM Resorts International (NYSE:MGM) Given New $46.00 Price Target at Barclays

MGM Resorts International (NYSE:MGM) had its target price lowered by Barclays from $50.00 to $46.00 in a research note issued to investors on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research analysts also recently issued reports on the stock. Truist Financial dropped their price target on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research 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 report on Tuesday, October 1st. JMP Securities lowered their target price on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a report on Monday, November 25th. Wells Fargo & Company reduced their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Finally, Morgan Stanley raised 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 report on Tuesday, October 22nd. Four equities research 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.54.

MGM Resorts International Stock Down 1.5 %

Shares of NYSE MGM opened at $36.25 on Friday. The company has a 50 day simple moving average of $38.37 and a 200 day simple moving average of $39.36. 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 has a 1 year low of $33.44 and a 1 year high of $48.24. The firm has a market cap 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 data on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. On average, research analysts forecast that MGM Resorts International will post 2.48 EPS for the current year.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.13% of the stock is currently owned by company insiders.

Institutional Trading of MGM Resorts International

Large investors have recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. raised its stake in MGM Resorts International by 1.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock valued at $1,018,000 after acquiring an additional 278 shares during the period. Fifth Third Bancorp lifted its stake in shares of MGM Resorts International by 3.6% during the 2nd quarter. Fifth Third Bancorp now owns 14,975 shares of the company’s stock valued at $665,000 after buying an additional 525 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in MGM Resorts International in the 2nd quarter worth approximately $447,000. &PARTNERS grew its stake in MGM Resorts International by 145.3% in the 2nd quarter. &PARTNERS now owns 20,213 shares of the company’s stock valued at $898,000 after buying an additional 11,972 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in MGM Resorts International by 7.0% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 16,444 shares of the company’s stock valued at $731,000 after acquiring an additional 1,075 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.

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.