MGM Resorts International (NYSE:MGM) Price Target Cut to $47.50 by Analysts at Citigroup

MGM Resorts International (NYSE:MGM) had its target price trimmed by Citigroup from $51.00 to $47.50 in a research note released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently commented on the company. Seaport Res Ptn cut MGM Resorts International from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 21st. Weiss Ratings reiterated a “sell (d+)” rating on shares of MGM Resorts International in a research note on Wednesday, October 8th. Stifel Nicolaus set a $45.00 target price on MGM Resorts International in a research note on Thursday. Susquehanna increased their target price on MGM Resorts International from $50.00 to $60.00 and gave the company a “positive” rating in a research note on Tuesday, July 29th. Finally, Truist Financial reduced their target price on MGM Resorts International from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday. Fourteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, MGM Resorts International presently has an average rating of “Moderate Buy” and an average price target of $47.58.

MGM Resorts International Stock Down 1.7%

NYSE MGM opened at $30.68 on Thursday. The stock has a market cap of $8.35 billion, a PE ratio of 191.74, a P/E/G ratio of 1.40 and a beta of 1.67. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 1.67. The business has a 50 day moving average price of $34.83 and a two-hundred day moving average price of $34.35. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $41.32.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, October 29th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.13). The business had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.24 billion. MGM Resorts International had a net margin of 0.40% and a return on equity of 16.95%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 earnings per share. As a group, sell-side analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In related news, Director Keith A. Meister sold 242,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the transaction, the director directly owned 5,385,478 shares in the company, valued at $190,753,630.76. This trade represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Mcmanus sold 60,000 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $36.12, for a total value of $2,167,200.00. Following the transaction, the insider owned 31,521 shares in the company, valued at $1,138,538.52. This trade represents a 65.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 3.06% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Large investors have recently added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC acquired a new stake in MGM Resorts International in the second quarter worth $25,000. Mendota Financial Group LLC acquired a new stake in MGM Resorts International in the third quarter worth $27,000. Golden State Wealth Management LLC increased its position in MGM Resorts International by 83.5% in the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company’s stock worth $30,000 after buying an additional 455 shares during the period. Mather Group LLC. acquired a new stake in MGM Resorts International in the third quarter worth $33,000. Finally, Bayforest Capital Ltd acquired a new stake in MGM Resorts International in the first quarter worth $43,000. 68.11% of the stock is owned by institutional investors and hedge funds.

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.