MGM Resorts International (NYSE:MGM - Free Report) had its target price lowered by Jefferies Financial Group from $52.00 to $50.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.
Other equities analysts have also recently issued reports about the company. Barclays lowered their price target on MGM Resorts International from $50.00 to $46.00 and set an "overweight" rating on the stock in a research report on Friday, December 13th. Mizuho cut their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of MGM Resorts International from $57.00 to $52.00 and set a "buy" rating on the stock in a report on Tuesday, October 1st. Truist Financial cut their target price on 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. 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 note on Monday, November 25th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, MGM Resorts International has a consensus rating of "Moderate Buy" and a consensus target price of $52.36.
Get Our Latest Stock Analysis on MGM
MGM Resorts International Stock Up 1.3 %
Shares of MGM stock traded up $0.43 on Friday, hitting $34.09. The stock had a trading volume of 3,320,454 shares, compared to its average volume of 3,785,027. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. MGM Resorts International has a 52-week low of $33.28 and a 52-week high of $48.24. The stock's 50 day moving average is $36.65 and its 200-day moving average is $38.79. The firm has a market capitalization of $10.15 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 3.10 and a beta of 2.20.
MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, research analysts expect that MGM Resorts International will post 2.48 earnings per share for the current year.
Insider Activity
In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the company's stock in a transaction dated 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 sale, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. 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 owned by insiders.
Institutional Trading of MGM Resorts International
Hedge funds have recently added to or reduced their stakes in the business. Quent Capital LLC lifted its holdings in shares of MGM Resorts International by 14.6% during the third quarter. Quent Capital LLC now owns 2,383 shares of the company's stock worth $93,000 after buying an additional 304 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of MGM Resorts International by 0.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company's stock valued at $2,080,000 after buying an additional 309 shares during the period. Lazari Capital Management Inc. grew its position in MGM Resorts International by 6.3% during the second quarter. Lazari Capital Management Inc. now owns 5,633 shares of the company's stock worth $250,000 after buying an additional 333 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of MGM Resorts International by 0.8% during the 2nd quarter. ProShare Advisors LLC now owns 57,876 shares of the company's stock worth $2,572,000 after purchasing an additional 431 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of MGM Resorts International by 1.6% during the third quarter. Daiwa Securities Group Inc. now owns 28,466 shares of the company's stock valued at $1,113,000 after purchasing an additional 459 shares during the period. Institutional investors own 68.11% of the company's stock.
MGM Resorts International Company Profile
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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.
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