MGM Resorts International (NYSE:MGM) Price Target Cut to $50.00 by Analysts at Jefferies Financial Group

MGM Resorts International (NYSE:MGM) had its price objective lowered by investment analysts at Jefferies Financial Group from $52.00 to $50.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 48.54% from the company’s previous close.

MGM has been the subject of a number of other research reports. Mizuho lowered their target price on shares of 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. Deutsche Bank Aktiengesellschaft dropped their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, October 1st. Barclays decreased their target price on 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. JMP Securities dropped their price target on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating on the stock in a research note on Monday, November 25th. Finally, Truist Financial reduced their price objective on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.36.

MGM Resorts International Price Performance

Shares of NYSE:MGM opened at $33.66 on Friday. The firm has a market cap of $10.02 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 3.10 and a beta of 2.20. MGM Resorts International has a 52 week low of $33.28 and a 52 week high of $48.24. The firm’s fifty day moving average is $36.77 and its 200-day moving average is $38.83. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. MGM Resorts International’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. Sell-side analysts predict that MGM Resorts International will post 2.48 earnings per share for the current year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 5,687,478 shares in the company, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of hedge funds have recently bought and sold shares of MGM. Fisher Asset Management LLC lifted its position in shares of MGM Resorts International by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after buying an additional 90,645 shares during the last quarter. Goldentree Asset Management LP increased its stake in shares of 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 bought a new stake in shares of MGM Resorts International in the third quarter valued at approximately $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 buying an additional 123,124 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of MGM Resorts International by 5.0% in 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 during the period. 68.11% of the stock is currently owned by institutional investors.

About MGM Resorts International

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.