JMP Securities Cuts MGM Resorts International (NYSE:MGM) Price Target to $50.00

MGM Resorts International (NYSE:MGM) had its price objective trimmed by JMP Securities from $54.00 to $50.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Truist Financial cut 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 note on Wednesday, October 23rd. Stifel Nicolaus raised their price objective on MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Macquarie lowered their price objective on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of 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. Finally, UBS Group upgraded MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $52.85.

MGM Resorts International Stock Down 0.5 %

Shares of NYSE MGM opened at $37.37 on Monday. The business has a 50-day moving average of $38.68 and a 200-day moving average of $39.67. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 2.74 and a beta of 2.23. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 12 month low of $33.44 and a 12 month high of $48.24.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. Sell-side analysts expect that MGM Resorts International will post 2.5 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, the director now owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Synovus Financial Corp purchased a new position in shares of MGM Resorts International in the third quarter worth $309,000. Tidal Investments LLC increased its holdings in MGM Resorts International by 269.7% in the 3rd quarter. Tidal Investments LLC now owns 33,050 shares of the company’s stock worth $1,292,000 after buying an additional 24,111 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in MGM Resorts International in the 3rd quarter worth about $55,000. Sanctuary Advisors LLC raised its position in MGM Resorts International by 60.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 51,687 shares of the company’s stock worth $1,954,000 after buying an additional 19,444 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in MGM Resorts International during the 3rd quarter valued at about $641,000. 68.11% of the stock is owned by hedge funds and other 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.