MGM Resorts International (NYSE:MGM) Given New $40.00 Price Target at Argus

MGM Resorts International (NYSE:MGM) had its price target lowered by Argus from $45.00 to $40.00 in a research report report published on Friday,MarketScreener reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on MGM. Weiss Ratings restated a “sell (d)” rating on shares of MGM Resorts International in a research note on Thursday. JPMorgan Chase & Co. decreased their price target on shares of MGM Resorts International from $41.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Seaport Res Ptn downgraded shares of MGM Resorts International from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 21st. Truist Financial reduced their price objective on shares of MGM Resorts International from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Finally, UBS Group lowered their target price on shares of MGM Resorts International from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, September 11th. Fourteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, MGM Resorts International has an average rating of “Hold” and an average price target of $47.03.

MGM Resorts International Stock Down 1.1%

Shares of MGM traded down $0.35 during mid-day trading on Friday, hitting $32.47. The company’s stock had a trading volume of 4,171,300 shares, compared to its average volume of 5,195,646. The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 1.67. The company’s 50-day moving average is $33.47 and its 200-day moving average is $34.53. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $41.32. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 202.95, a PEG ratio of 1.40 and a beta of 1.66.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.13). The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.24 billion. MGM Resorts International had a return on equity of 16.95% and a net margin of 0.40%.The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. On average, equities research analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 242,000 shares of MGM Resorts International stock in a transaction dated 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 completion of the sale, the director owned 5,385,478 shares of the company’s stock, valued at approximately $190,753,630.76. The trade was a 4.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Mcmanus sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $36.12, for a total value of $2,167,200.00. Following the completion of the transaction, the insider directly owned 31,521 shares in the company, valued at $1,138,538.52. This represents a 65.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 3.06% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Large investors have recently bought and sold shares of the company. CYBER HORNET ETFs LLC purchased a new position in MGM Resorts International during the 2nd quarter worth approximately $25,000. Mendota Financial Group LLC purchased a new position in shares of MGM Resorts International during the third quarter worth $27,000. Mather Group LLC. acquired a new position in MGM Resorts International during the third quarter valued at $33,000. Bayforest Capital Ltd acquired a new position in MGM Resorts International during the first quarter valued at $43,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in MGM Resorts International by 66.9% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company’s stock valued at $45,000 after purchasing an additional 529 shares during the last quarter. Hedge funds and other institutional investors 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.