MGM Resorts International (NYSE:MGM) PT Lowered to $54.00

MGM Resorts International (NYSE:MGM) had its price target cut by equities researchers at Barclays from $56.00 to $54.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 31.10% from the company’s current price.

A number of other equities research analysts also recently issued reports on MGM. JMP Securities reduced their price target on shares of MGM Resorts International from $57.00 to $56.00 and set a “market outperform” rating on the stock in a research note on Monday, October 14th. Wells Fargo & Company decreased their price target on MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. UBS Group raised MGM Resorts International to a “hold” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, October 1st. Finally, Stifel Nicolaus lifted their price objective on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.57.

MGM Resorts International Price Performance

MGM stock opened at $41.19 on Thursday. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24. The company has a quick ratio of 1.42, a current ratio of 1.47 and a debt-to-equity ratio of 1.65. The stock has a market cap of $12.92 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 0.92 and a beta of 2.23. The business has a fifty day moving average of $38.11 and a two-hundred day moving average of $40.59.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data 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. The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $0.59 EPS. As a group, research analysts anticipate that MGM Resorts International will post 2.55 earnings per share for the current year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, CEO William Hornbuckle acquired 58,900 shares of the stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $33.73 per share, with a total value of $1,986,697.00. Following the transaction, the chief executive officer now owns 377,112 shares in the company, valued at $12,719,987.76. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William Hornbuckle acquired 58,900 shares of MGM Resorts International stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $33.73 per share, for a total transaction of $1,986,697.00. Following the transaction, the chief executive officer now owns 377,112 shares of the company’s stock, valued at $12,719,987.76. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul J. Salem bought 147,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average cost of $33.80 per share, for a total transaction of $4,985,500.00. Following the completion of the transaction, the director now directly owns 1,702,500 shares in the company, valued at approximately $57,544,500. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 216,400 shares of company stock worth $7,312,197 over the last ninety days. Corporate insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

Large investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in MGM Resorts International in the second quarter valued at approximately $28,000. EverSource Wealth Advisors LLC raised its position in MGM Resorts International by 60.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock valued at $41,000 after purchasing an additional 329 shares during the last quarter. UMB Bank n.a. boosted 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 worth $42,000 after purchasing an additional 237 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in MGM Resorts International during the 2nd quarter worth $49,000. Finally, Blue Trust Inc. increased its stake in MGM Resorts International by 120.6% in the third quarter. Blue Trust Inc. now owns 1,348 shares of the company’s stock valued at $53,000 after purchasing an additional 737 shares during the period. 68.11% of the stock is owned by institutional investors and hedge funds.

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.