MGM Resorts International (NYSE:MGM) PT Lowered to $55.00

MGM Resorts International (NYSE:MGM) had its target price reduced by Macquarie from $58.00 to $55.00 in a research report report published on Friday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Susquehanna increased their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a positive rating in a research note on Thursday, August 1st. Mizuho lifted their target price on MGM Resorts International from $61.00 to $62.00 and gave the company a buy rating in a report on Thursday, May 2nd. Stifel Nicolaus raised their price objective on MGM Resorts International from $60.00 to $63.00 and gave the stock a buy rating in a report on Thursday, August 1st. Wells Fargo & Company decreased their target price on MGM Resorts International from $55.00 to $53.00 and set an overweight rating for the company in a report on Thursday, August 1st. Finally, Barclays raised their price target on shares of MGM Resorts International from $55.00 to $56.00 and gave the company an overweight rating in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $54.00.

MGM Resorts International Price Performance

MGM stock opened at $34.10 on Friday. The stock has a market capitalization of $10.70 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 0.77 and a beta of 2.24. The company has a quick ratio of 1.46, a current ratio of 1.47 and a debt-to-equity ratio of 1.65. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24. The stock’s fifty day simple moving average is $41.92 and its 200-day simple moving average is $42.69.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same period last year, the company earned $0.59 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts expect that MGM Resorts International will post 3 EPS for the current year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Daniel J. Taylor sold 4,344 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $41.02, for a total transaction of $178,190.88. Following the completion of the sale, the director now owns 5,250 shares in the company, valued at approximately $215,355. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of MGM Resorts International 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 completion of the transaction, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Daniel J. Taylor sold 4,344 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $41.02, for a total transaction of $178,190.88. Following the sale, the director now directly owns 5,250 shares in the company, valued at $215,355. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,988 shares of company stock valued at $5,991,759. 2.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MGM Resorts International

Several institutional investors and hedge funds have recently bought and sold shares of MGM. UMB Bank n.a. raised its stake in MGM Resorts International by 33.3% during the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares during the period. Texas Permanent School Fund Corp lifted its stake in MGM Resorts International by 0.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 56,487 shares of the company’s stock worth $2,667,000 after acquiring an additional 245 shares in the last quarter. Mendota Financial Group LLC boosted its position in MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after acquiring an additional 266 shares during the period. Lindbrook Capital LLC boosted its position in MGM Resorts International by 8.2% during the 1st quarter. Lindbrook Capital LLC now owns 3,550 shares of the company’s stock worth $168,000 after acquiring an additional 268 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its holdings in shares of MGM Resorts International by 1.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company’s stock valued at $1,018,000 after purchasing an additional 278 shares during the period. Institutional investors and hedge funds 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.