MGM Resorts International (NYSE:MGM) Given New $46.00 Price Target at Barclays

MGM Resorts International (NYSE:MGM) had its price objective reduced by Barclays from $50.00 to $46.00 in a research note issued to investors on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft reduced their target price on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Morgan Stanley increased their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 22nd. Mizuho dropped their target price on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. JMP Securities decreased 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. Finally, UBS Group raised MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.54.

MGM Resorts International Trading Down 1.5 %

Shares of NYSE MGM opened at $36.25 on Friday. The firm has a 50 day moving average price of $38.37 and a two-hundred day moving average price of $39.37. The stock has a market cap of $10.79 billion, a P/E ratio of 12.95, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24. 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts forecast that MGM Resorts International will post 2.48 EPS for the current year.

Insider Buying and Selling

In other MGM Resorts International 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 transaction of $1,865,070.00. Following the completion of the sale, the director now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MGM. HG Vora Capital Management LLC purchased a new stake in shares of MGM Resorts International during the third quarter valued at approximately $97,725,000. Goldentree Asset Management LP boosted its position in shares of MGM Resorts International by 86.4% during the third 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 during the last quarter. Marshall Wace LLP increased its holdings in MGM Resorts International by 174.8% in the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after buying an additional 706,159 shares in the last quarter. LSV Asset Management bought a new stake in MGM Resorts International in the 2nd quarter worth about $21,149,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in MGM Resorts International in the 3rd quarter worth about $17,622,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

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.