MGM Resorts International (NYSE:MGM) Cut to Neutral at BTIG Research

BTIG Research lowered shares of MGM Resorts International (NYSE:MGM) from a buy rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat reports.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company decreased 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 note on Thursday, October 17th. Barclays decreased their target price on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, December 13th. Truist Financial decreased their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. JMP Securities reissued a “market outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, January 16th. Finally, Jefferies Financial Group reduced their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.93.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $34.13 on Monday. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24. The company has a 50 day simple moving average of $34.71 and a two-hundred day simple moving average of $37.19. The company has a market capitalization of $10.16 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 2.93 and a beta of 2.21. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, December 13th. The shares were 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 owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. MidAtlantic Capital Management Inc. purchased a new position in shares of MGM Resorts International during the 3rd quarter worth $28,000. Global Trust Asset Management LLC purchased a new position in shares of MGM Resorts International during the 4th quarter worth $28,000. Eastern Bank purchased a new position in shares of MGM Resorts International during the 3rd quarter worth $35,000. Brooklyn Investment Group purchased a new position in shares of MGM Resorts International during the 3rd quarter worth $44,000. Finally, Planning Capital Management Corp purchased a new position in shares of MGM Resorts International during the 3rd quarter worth $45,000. Hedge funds and other 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.