MGM Resorts International (NYSE:MGM) Price Target Cut to $50.00 by Analysts at JMP Securities

MGM Resorts International (NYSE:MGM) had its target price decreased by JMP Securities from $54.00 to $50.00 in a report published on Monday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Other equities analysts also recently issued reports about the company. 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. Morgan Stanley raised their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday, October 1st. Susquehanna raised their price objective on MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company cut their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, MGM Resorts International has a consensus rating of “Moderate Buy” and an average price target of $52.85.

MGM Resorts International Stock Down 0.5 %

Shares of NYSE:MGM opened at $37.37 on Monday. The stock’s 50-day moving average price is $38.69 and its two-hundred day moving average price is $39.65. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 12-month low of $33.44 and a 12-month high of $48.24. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 2.74 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts forecast that MGM Resorts International will post 2.5 EPS for the current year.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of MGM Resorts International stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the sale, the director now directly owns 5,738,478 shares in the company, valued at $210,716,912.16. The trade was a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On MGM Resorts International

Several hedge funds and other institutional investors have recently bought and sold shares of MGM. Advisors Asset Management Inc. grew its position in shares of MGM Resorts International by 106.8% in the 1st quarter. Advisors Asset Management Inc. now owns 8,542 shares of the company’s stock worth $403,000 after acquiring an additional 4,412 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of MGM Resorts International by 1.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 563,444 shares of the company’s stock worth $26,602,000 after acquiring an additional 5,968 shares in the last quarter. Mount Yale Investment Advisors LLC grew its position in shares of MGM Resorts International by 38.4% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 8,383 shares of the company’s stock worth $396,000 after acquiring an additional 2,325 shares in the last quarter. Dynasty Wealth Management LLC acquired a new position in shares of MGM Resorts International in the 1st quarter worth approximately $638,000. Finally, B. Riley Wealth Advisors Inc. grew its position in shares of MGM Resorts International by 12.7% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 5,955 shares of the company’s stock worth $281,000 after acquiring an additional 670 shares in the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

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.