Jefferies Financial Group Cuts MGM Resorts International (NYSE:MGM) Price Target to $50.00

MGM Resorts International (NYSE:MGM) had its price target decreased by Jefferies Financial Group from $52.00 to $50.00 in a research report released on Friday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Mizuho cut their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Truist Financial cut their price target on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Morgan Stanley lifted their target price on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Barclays reduced their target price on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.36.

MGM Resorts International Price Performance

MGM opened at $34.09 on Friday. The company has a market capitalization of $10.15 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 3.10 and a beta of 2.21. 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 $33.28 and a 12-month high of $48.24. The business’s fifty day simple moving average is $36.65 and its 200-day simple moving average is $38.76.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. On average, equities research analysts anticipate that MGM Resorts International will post 2.48 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Modus Advisors LLC purchased a new position in shares of MGM Resorts International during the 4th quarter valued at approximately $46,000. Oddo BHF Asset Management Sas purchased a new position in MGM Resorts International in the third quarter valued at $1,886,000. Synovus Financial Corp acquired a new position in shares of MGM Resorts International in the third quarter worth about $309,000. Tidal Investments LLC boosted its stake in shares of MGM Resorts International by 269.7% during the 3rd quarter. Tidal Investments LLC now owns 33,050 shares of the company’s stock worth $1,292,000 after acquiring an additional 24,111 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of MGM Resorts International during the 3rd quarter valued at about $55,000. 68.11% of the stock is currently 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.