MGM Resorts International (NYSE:MGM) PT Lowered to $44.00

MGM Resorts International (NYSE:MGM) had its price objective reduced by research analysts at Morgan Stanley from $47.00 to $44.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential downside of 4.58% from the company’s current price.

Several other analysts have also recently commented on the company. StockNews.com cut MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Mizuho upped their price target on shares of MGM Resorts International from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Barclays upped their price objective on MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, JMP Securities lifted their target price on MGM Resorts International from $57.00 to $58.00 and gave the company a “market outperform” rating in a report on Monday, May 6th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.53.

MGM Resorts International Stock Performance

NYSE:MGM opened at $46.11 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.51 and a quick ratio of 1.46. The firm has a market cap of $14.46 billion, a PE ratio of 17.73, a P/E/G ratio of 0.95 and a beta of 2.24. The firm has a 50 day simple moving average of $41.35 and a 200-day simple moving average of $42.87. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.24 billion. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 EPS. On average, equities analysts expect that MGM Resorts International will post 3.01 EPS for the current year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $40.44, for a total value of $5,633,292.00. Following the transaction, the director now owns 5,859,478 shares in the company, valued at approximately $236,957,290.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Alexis Herman sold 4,344 shares of MGM Resorts International stock in a transaction on Friday, May 17th. The shares were sold at an average price of $41.50, for a total value of $180,276.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith A. Meister sold 139,300 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the transaction, the director now owns 5,859,478 shares in the company, valued at $236,957,290.32. The disclosure for this sale can be found here. In the last three months, insiders sold 147,988 shares of company stock valued at $5,991,759. Corporate insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. OLD National Bancorp IN acquired a new stake in MGM Resorts International during the third quarter valued at approximately $217,000. Comerica Bank lifted its stake in MGM Resorts International by 130,138.6% during the third quarter. Comerica Bank now owns 148,472 shares of the company’s stock worth $5,458,000 after purchasing an additional 148,358 shares during the last quarter. Neo Ivy Capital Management acquired a new position in MGM Resorts International in the third quarter worth $149,000. B. Riley Wealth Advisors Inc. increased its stake in MGM Resorts International by 15.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 5,955 shares of the company’s stock valued at $219,000 after purchasing an additional 810 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its holdings in shares of MGM Resorts International by 31.3% during the third quarter. Raleigh Capital Management Inc. now owns 3,327 shares of the company’s stock worth $122,000 after purchasing an additional 794 shares during the period. Institutional investors own 68.11% of the company’s stock.

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.