MGM Resorts International (NYSE:MGM) Price Target Lowered to $50.00 at Jefferies Financial Group

MGM Resorts International (NYSE:MGM) had its target price lowered by Jefferies Financial Group from $52.00 to $50.00 in a research report sent to investors on Friday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

A number of other analysts have also issued reports on MGM. Morgan Stanley lifted their price target on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. 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 report on Thursday, October 17th. Barclays decreased their price target on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Truist Financial dropped 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. Finally, Mizuho decreased 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 research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and a consensus target price of $52.36.

MGM Resorts International Stock Performance

NYSE:MGM opened at $34.09 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The stock has a market capitalization of $10.15 billion, a PE ratio of 12.18, a P/E/G ratio of 3.10 and a beta of 2.21. MGM Resorts International has a fifty-two week low of $33.28 and a fifty-two week high of $48.24. The company has a fifty day moving average of $36.65 and a two-hundred day moving average of $38.76.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The company had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts forecast that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MGM Resorts International

Several hedge funds have recently bought and sold shares of MGM. Fisher Asset Management LLC grew its position in MGM Resorts International by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock valued at $177,777,000 after acquiring an additional 90,645 shares in the last quarter. Goldentree Asset Management LP grew its holdings in shares of MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares in the last quarter. HG Vora Capital Management LLC purchased a new stake in MGM Resorts International during the 3rd quarter worth approximately $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in MGM Resorts International by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock worth $89,832,000 after buying an additional 123,124 shares in the last quarter. Finally, FMR LLC boosted its position in MGM Resorts International by 5.0% in the 3rd quarter. FMR LLC now owns 1,681,699 shares of the company’s stock valued at $65,738,000 after buying an additional 79,486 shares during the period. Institutional investors and hedge funds 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.