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

MGM Resorts International (NYSE:MGM - Free Report) had its price objective decreased by Barclays from $50.00 to $46.00 in a report published on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on MGM. Mizuho dropped 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 research note on Thursday, October 31st. Wells Fargo & Company dropped their target price 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. Truist Financial reduced their price target 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. Morgan Stanley upped their price objective on MGM Resorts International from $43.00 to $44.00 and gave the company an "equal weight" rating in a report on Tuesday, October 22nd. Finally, UBS Group upgraded MGM Resorts International to a "hold" rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $52.54.

MGM Resorts International Trading Down 1.5 %

MGM traded down $0.55 during mid-day trading on Friday, reaching $36.25. The stock had a trading volume of 2,843,383 shares, compared to its average volume of 4,063,788. The firm's fifty day simple moving average is $38.37 and its two-hundred day simple moving average is $39.37. The stock has a market capitalization of $10.79 billion, a P/E ratio of 12.95, a P/E/G ratio of 3.16 and a beta of 2.20. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24. 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 (NYSE:MGM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. MGM Resorts International's revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 EPS. On average, equities analysts predict that MGM Resorts International will post 2.48 EPS for the current year.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business'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 sale, the director now directly owns 5,687,478 shares of the company's stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.13% of the company's stock.

Institutional Trading of MGM Resorts International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Oddo BHF Asset Management Sas acquired a new position in MGM Resorts International during the third quarter valued at approximately $1,886,000. Synovus Financial Corp acquired a new stake in shares of MGM Resorts International in the 3rd quarter valued at approximately $309,000. Tidal Investments LLC boosted its holdings in shares of MGM Resorts International by 269.7% in the 3rd quarter. Tidal Investments LLC now owns 33,050 shares of the company's stock valued at $1,292,000 after buying an additional 24,111 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of MGM Resorts International in the third quarter valued at $55,000. Finally, Sanctuary Advisors LLC increased its holdings in MGM Resorts International by 60.3% during the third quarter. Sanctuary Advisors LLC now owns 51,687 shares of the company's stock worth $1,954,000 after buying an additional 19,444 shares during the last quarter. Institutional investors and hedge funds own 68.11% of the company's stock.

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.