MGM Resorts International (NYSE:MGM) Cut to “Neutral” at BTIG Research

BTIG Research downgraded shares of MGM Resorts International (NYSE:MGM) from a buy rating to a neutral rating in a report issued on Monday, Marketbeat reports.

Several other research analysts have also recently issued reports on the company. Truist Financial dropped their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Barclays dropped their price target on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Morgan Stanley lifted their price objective on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report 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 on the stock in a report on Thursday, October 17th. Finally, JMP Securities restated a “market outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a report on Thursday, January 16th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, MGM Resorts International presently has an average rating of “Moderate Buy” and a consensus target price of $51.93.

MGM Resorts International Trading Down 0.9 %

Shares of NYSE MGM opened at $34.24 on Monday. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two 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. The company has a market cap of $10.19 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 2.93 and a beta of 2.20. The business’s 50 day moving average price is $34.59 and its 200-day moving average price is $37.10.

Insider Buying and Selling

In other news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction dated 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 sale, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. The trade was 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 accessible through this link. Insiders own 2.83% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

Several institutional investors have recently added to or reduced their stakes in MGM. Quent Capital LLC lifted its holdings in shares of MGM Resorts International by 14.6% in the 3rd quarter. Quent Capital LLC now owns 2,383 shares of the company’s stock valued at $93,000 after buying an additional 304 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in MGM Resorts International by 0.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock worth $2,080,000 after acquiring an additional 309 shares in the last quarter. Ballentine Partners LLC lifted its holdings in MGM Resorts International by 5.4% in the fourth quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock valued at $227,000 after acquiring an additional 333 shares during the period. Global Retirement Partners LLC boosted its position in shares of MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of MGM Resorts International by 1.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 28,466 shares of the company’s stock worth $1,113,000 after purchasing an additional 459 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.