MGM Resorts International (NYSE:MGM) Given New $46.00 Price Target at Susquehanna

MGM Resorts International (NYSE:MGM) had its price objective decreased by Susquehanna from $55.00 to $46.00 in a report released on Thursday. The firm currently has a “positive” rating on the stock. Susquehanna’s price objective suggests a potential upside of 21.67% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. HSBC upgraded shares of MGM Resorts International to a “strong-buy” rating in a report on Thursday, July 30th. The Goldman Sachs Group reissued a “sell” rating and issued a $43.00 price target on shares of MGM Resorts International in a research report on Wednesday, July 15th. Morgan Stanley reaffirmed an “underweight” rating on shares of MGM Resorts International in a research report on Wednesday, July 22nd. Truist Financial upgraded MGM Resorts International from a “hold” rating to a “buy” rating and increased their price objective for the company from $42.00 to $55.00 in a research note on Wednesday, May 27th. Finally, Mizuho set a $55.00 target price on MGM Resorts International in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $52.96.

MGM Resorts International Stock Down 2.8%

NYSE:MGM opened at $37.81 on Thursday. The stock’s fifty day moving average is $42.88 and its two-hundred day moving average is $41.81. MGM Resorts International has a 52 week low of $29.18 and a 52 week high of $51.59. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $9.51 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 1.99 and a beta of 1.28.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, July 29th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.03. The company had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.42 billion. MGM Resorts International had a return on equity of 23.30% and a net margin of 2.40%.MGM Resorts International’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. Research analysts anticipate that MGM Resorts International will post 1.96 EPS for the current year.

Institutional Trading of MGM Resorts International

Hedge funds and other institutional investors have recently bought and sold shares of the business. QRG Capital Management Inc. increased its holdings in shares of MGM Resorts International by 10.9% in the 2nd quarter. QRG Capital Management Inc. now owns 37,863 shares of the company’s stock valued at $1,810,000 after acquiring an additional 3,716 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in MGM Resorts International by 1.1% in the second quarter. Envestnet Asset Management Inc. now owns 494,992 shares of the company’s stock valued at $23,666,000 after purchasing an additional 5,411 shares during the last quarter. State Street Corp raised its holdings in MGM Resorts International by 0.8% during the second quarter. State Street Corp now owns 7,047,768 shares of the company’s stock worth $336,954,000 after purchasing an additional 56,072 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of MGM Resorts International by 6.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 152,329 shares of the company’s stock worth $7,283,000 after buying an additional 8,721 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of MGM Resorts International by 3.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 36,005 shares of the company’s stock valued at $1,721,000 after buying an additional 1,075 shares in the last quarter. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Company Profile

MGM Resorts International is a global hospitality and entertainment company that owns and operates destination resorts, casinos, hotels, restaurants, convention facilities and live-entertainment venues. Its properties offer casino gaming, hotel accommodations, dining, nightlife, retail, spa services, sporting events and other leisure activities.

The company operates a portfolio of resorts in Las Vegas and other U.S. markets, including properties associated with brands such as MGM Grand, Bellagio, ARIA, Mandalay Bay, Park MGM, New York-New York and MGM National Harbor.