MGM Resorts International (NYSE:MGM - Free Report) had its price objective raised by Citigroup from $48.00 to $50.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.
A number of other brokerages also recently issued reports on MGM. Truist Financial lowered their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, January 14th. Wells Fargo & Company raised their price target on shares of MGM Resorts International from $44.00 to $46.00 and gave the company an "overweight" rating in a report on Thursday. BTIG Research cut shares of MGM Resorts International from a "buy" rating to a "neutral" rating in a report on Monday, February 3rd. Capital One Financial lifted their price objective on MGM Resorts International from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Wednesday, February 12th. Finally, Mizuho upped their target price on MGM Resorts International from $56.00 to $60.00 and gave the stock an "outperform" rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $51.47.
Get Our Latest Analysis on MGM
MGM Resorts International Stock Performance
Shares of NYSE MGM traded down $0.56 during trading on Thursday, reaching $39.82. 6,451,467 shares of the stock traded hands, compared to its average volume of 4,507,628. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The stock has a market capitalization of $11.85 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 2.94 and a beta of 2.20. MGM Resorts International has a 52-week low of $31.61 and a 52-week high of $48.24. The company has a 50-day moving average of $34.38 and a 200-day moving average of $36.73.
MGM Resorts International (NYSE:MGM - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. Analysts forecast that MGM Resorts International will post 2.37 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director Keith A. Meister sold 51,000 shares of the business's stock in a transaction 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 sale, the director now owns 5,687,478 shares in the company, valued at approximately $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 accessible through the SEC website. 2.13% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. MidAtlantic Capital Management Inc. bought a new stake in shares of MGM Resorts International in the 3rd quarter worth approximately $28,000. Global Trust Asset Management LLC bought a new stake in shares of MGM Resorts International in the 4th quarter worth $28,000. Assetmark Inc. raised its position in MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after buying an additional 411 shares during the last quarter. Eastern Bank purchased a new position in shares of MGM Resorts International during the third quarter valued at approximately $35,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock valued at $43,000 after buying an additional 404 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.
About MGM Resorts International
(
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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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