MGM Resorts International (NYSE:MGM) Given New $50.00 Price Target at Truist Financial

MGM Resorts International (NYSE:MGM) had its price objective cut by investment analysts at Truist Financial from $54.00 to $50.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 54.85% from the stock’s current price.

MGM has been the topic of several other research reports. Morgan Stanley boosted their target price on shares of 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. Mizuho decreased their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Jefferies Financial Group dropped their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Wells Fargo & Company reduced their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Finally, JMP Securities dropped their price target 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. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.93.

MGM Resorts International Stock Up 1.3 %

Shares of MGM opened at $32.29 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. The company has a 50-day moving average price of $35.97 and a two-hundred day moving average price of $38.44. The stock has a market cap of $9.61 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 3.10 and a beta of 2.21. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $4.21 billion. During the same quarter last year, the business earned $0.64 EPS. MGM Resorts International’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts predict that MGM Resorts International will post 2.48 EPS for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the company’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 completion of 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

A number of institutional investors have recently made changes to their positions in MGM. Fisher Asset Management LLC raised its holdings in MGM Resorts International by 2.0% in the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock worth $177,777,000 after purchasing an additional 90,645 shares during the period. Goldentree Asset Management LP increased its position in shares of MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after buying an additional 1,390,599 shares in the last quarter. HG Vora Capital Management LLC acquired a new stake 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 stake 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 worth $89,832,000 after buying an additional 123,124 shares during the period. Finally, FMR LLC lifted its holdings in MGM Resorts International by 5.0% during the third quarter. FMR LLC now owns 1,681,699 shares of the company’s stock worth $65,738,000 after acquiring an additional 79,486 shares in the last quarter. 68.11% of the stock is owned by institutional investors and hedge funds.

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.