MGM Resorts International (NYSE:MGM) Price Target Lowered to $50.00 at Truist Financial

MGM Resorts International (NYSE:MGM - Get Free Report) had its price target lowered by research analysts at Truist Financial from $54.00 to $50.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's target price would suggest a potential upside of 50.92% from the company's current price.

Other analysts have also recently issued reports about the stock. 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 note on Thursday, October 17th. Jefferies Financial Group decreased their price target on MGM Resorts International from $52.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft dropped their price objective on MGM Resorts International from $57.00 to $52.00 and set a "buy" rating for the company in a research note on Tuesday, October 1st. Morgan Stanley lifted their target price on MGM Resorts International from $43.00 to $44.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 22nd. Finally, Mizuho dropped their price target on 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. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $51.93.

MGM Resorts International Stock Performance

NYSE MGM traded up $0.80 on Tuesday, hitting $33.13. 6,101,711 shares of the company traded hands, compared to its average volume of 5,022,299. The business's 50 day moving average price is $35.89 and its 200-day moving average price is $38.36. MGM Resorts International has a 52-week low of $31.61 and a 52-week high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $9.86 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 3.10 and a beta of 2.21.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings data 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 net margin of 5.23% and a return on equity of 25.84%. The company 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 firm earned $0.64 earnings per share. The firm's quarterly revenue was up 5.3% on a year-over-year basis. Equities analysts expect that MGM Resorts International will post 2.48 earnings per share for the current year.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 51,000 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value 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 trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.13% of the company's stock.

Institutional Investors Weigh In On MGM Resorts International

Institutional investors and hedge funds have recently modified their holdings of the business. Fisher Asset Management LLC grew its stake in MGM Resorts International by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company's stock worth $177,777,000 after acquiring an additional 90,645 shares in the last quarter. Goldentree Asset Management LP grew its stake in MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company's stock worth $117,270,000 after purchasing an additional 1,390,599 shares in the last quarter. HG Vora Capital Management LLC purchased a new position in MGM Resorts International during the 3rd quarter worth $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in MGM Resorts International by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company's stock valued at $89,832,000 after purchasing an additional 123,124 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of MGM Resorts International by 5.0% in the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company's stock worth $65,738,000 after buying an additional 79,486 shares during the period. 68.11% of the stock is owned by institutional investors.

MGM Resorts International Company Profile

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.