Susquehanna Issues Pessimistic Forecast for MGM Resorts International (NYSE:MGM) Stock Price

MGM Resorts International (NYSE:MGMGet Free Report) had its price objective reduced by analysts at Susquehanna from $46.00 to $45.00 in a report released on Friday,MarketScreener reports. The firm currently has a “positive” rating on the stock. Susquehanna’s target price points to a potential upside of 20.03% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Stifel Nicolaus lifted their price objective on MGM Resorts International from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday. Zacks Research upgraded MGM Resorts International from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Wells Fargo & Company raised their target price on shares of MGM Resorts International from $29.00 to $31.00 and gave the stock an “underweight” rating in a report on Friday, January 16th. Truist Financial lifted their target price on shares of MGM Resorts International from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Friday. Finally, UBS Group cut their price target on shares of MGM Resorts International from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Monday, November 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $43.82.

Get Our Latest Stock Analysis on MGM Resorts International

MGM Resorts International Stock Up 3.3%

Shares of NYSE MGM opened at $37.49 on Friday. The stock has a market capitalization of $10.25 billion, a P/E ratio of 49.99 and a beta of 1.44. MGM Resorts International has a one year low of $25.30 and a one year high of $41.32. The firm’s 50 day simple moving average is $35.62 and its two-hundred day simple moving average is $35.03. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.23 and a quick ratio of 1.19.

MGM Resorts International (NYSE:MGMGet Free Report) last released its earnings results on Thursday, February 5th. The company reported $1.60 EPS for the quarter, beating the consensus estimate of $0.64 by $0.96. The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $4.42 billion. MGM Resorts International had a net margin of 1.17% and a return on equity of 25.46%. During the same quarter last year, the firm earned $0.45 EPS. As a group, analysts expect 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, major shareholder Iac Inc. bought 1,098,748 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were purchased at an average price of $36.30 per share, with a total value of $39,884,552.40. Following the purchase, the insider owned 65,822,350 shares of the company’s stock, valued at approximately $2,389,351,305. This trade represents a 1.70% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.06% of the company’s stock.

Institutional Trading of MGM Resorts International

Several large investors have recently bought and sold shares of MGM. Americana Partners LLC lifted its stake in shares of MGM Resorts International by 14.3% in the 4th quarter. Americana Partners LLC now owns 9,418 shares of the company’s stock valued at $344,000 after purchasing an additional 1,180 shares during the period. Global Retirement Partners LLC raised its holdings in MGM Resorts International by 55.9% in the fourth quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 281 shares in the last quarter. Covestor Ltd raised its holdings in MGM Resorts International by 120.3% in the fourth quarter. Covestor Ltd now owns 1,441 shares of the company’s stock worth $53,000 after purchasing an additional 787 shares in the last quarter. Resona Asset Management Co. Ltd. lifted its position in MGM Resorts International by 26.2% during the fourth quarter. Resona Asset Management Co. Ltd. now owns 2,588 shares of the company’s stock valued at $96,000 after buying an additional 537 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of MGM Resorts International by 3.7% during the 4th quarter. ProShare Advisors LLC now owns 56,888 shares of the company’s stock valued at $2,076,000 after buying an additional 2,042 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

MGM Resorts International News Roundup

Here are the key news stories impacting MGM Resorts International this week:

About MGM Resorts International

(Get Free Report)

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.

Further Reading

Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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