MGM Resorts International (NYSE:MGM) Price Target Lowered to $52.00 at Deutsche Bank Aktiengesellschaft

by · The Cerbat Gem

MGM Resorts International (NYSE:MGM – Free Report) had its target price lowered by Deutsche Bank Aktiengesellschaft from $57.00 to $52.00 in a report released on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

MGM has been the topic of a number of other reports. Stifel Nicolaus increased their price objective on shares of MGM Resorts International from $60.00 to $63.00 and gave the company a buy rating in a research note on Thursday, August 1st. JMP Securities dropped their price objective on shares of MGM Resorts International from $59.00 to $57.00 and set a market outperform rating for the company in a research note on Thursday, August 1st. Morgan Stanley reduced their target price on MGM Resorts International from $44.00 to $43.00 and set an equal weight rating on the stock in a research note on Wednesday, September 4th. UBS Group raised MGM Resorts International to a hold rating in a research report on Friday, August 23rd. Finally, Macquarie cut their price target on MGM Resorts International from $58.00 to $55.00 and set an outperform rating for the company in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, MGM Resorts International presently has a consensus rating of Moderate Buy and an average price target of $53.93.

View Our Latest Stock Analysis on MGM

MGM Resorts International Stock Up 1.9 %

MGM stock opened at $40.42 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 1.42 and a debt-to-equity ratio of 1.65. The company’s 50-day moving average price is $37.82 and its 200 day moving average price is $40.96. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24. The company has a market cap of $12.68 billion, a P/E ratio of 15.49, a P/E/G ratio of 0.68 and a beta of 2.22.

MGM Resorts International (NYSE:MGM – Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.66 by $0.20. MGM Resorts International had a return on equity of 26.36% and a net margin of 5.15%. The business had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the company earned $0.59 EPS. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, research analysts expect that MGM Resorts International will post 2.63 earnings per share for the current fiscal year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the transaction, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the completion of the sale, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Hornbuckle bought 58,900 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was bought at an average cost of $33.73 per share, with a total value of $1,986,697.00. Following the transaction, the chief executive officer now directly owns 377,112 shares of the company’s stock, valued at approximately $12,719,987.76. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 216,400 shares of company stock worth $7,312,197. 2.13% of the stock is owned by company insiders.

Institutional Trading of MGM Resorts International

Large investors have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of MGM Resorts International during the second quarter valued at about $28,000. EverSource Wealth Advisors LLC increased its holdings in MGM Resorts International by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after purchasing an additional 329 shares during the last quarter. UMB Bank n.a. raised its position in shares of MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares in the last quarter. Accent Capital Management LLC purchased a new position in shares of MGM Resorts International during the 4th quarter valued at approximately $45,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of MGM Resorts International in the second quarter worth $49,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Company Profile

(Get Free Report)

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.

Featured Articles