MGM Resorts International (NYSE:MGM) Given New $50.00 Price Target at Truist Financial

MGM Resorts International (NYSE:MGM) had its target price decreased by Truist Financial from $54.00 to $50.00 in a research report released on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other analysts have also recently weighed in on MGM. Barclays dropped their price objective on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Jefferies Financial Group dropped their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. JMP Securities reduced their price objective on shares of 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. Wells Fargo & Company dropped their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Finally, Mizuho reduced their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.93.

MGM Resorts International Price Performance

MGM opened at $33.13 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The stock has a market capitalization of $9.86 billion, a P/E ratio of 11.83, a price-to-earnings-growth ratio of 3.10 and a beta of 2.21. The company’s 50 day simple moving average is $35.89 and its 200-day simple moving average is $38.36. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24.

MGM Resorts International (NYSE:MGM) last announced 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 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 quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.64 earnings per share. Sell-side analysts anticipate that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related 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 completion of the transaction, the director now directly owns 5,687,478 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

Several hedge funds have recently bought and sold shares of the stock. MidAtlantic Capital Management Inc. bought a new stake in shares of MGM Resorts International during the third quarter worth $28,000. Eastern Bank acquired a new position in MGM Resorts International in the 3rd quarter worth $35,000. Brooklyn Investment Group bought a new position in MGM Resorts International during the 3rd quarter worth about $44,000. Planning Capital Management Corp acquired a new stake in shares of MGM Resorts International in the 3rd quarter valued at about $45,000. Finally, Modus Advisors LLC bought a new stake in shares of MGM Resorts International in the fourth quarter valued at about $46,000. 68.11% of the stock is currently 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.