Investment Analysts’ Weekly Ratings Changes for MGM Resorts International (MGM)

by · The Markets Daily

Several brokerages have updated their recommendations and price targets on shares of MGM Resorts International (NYSE: MGM) in the last few weeks:

  • 10/31/2024 – MGM Resorts International had its price target lowered by analysts at Barclays PLC from $54.00 to $50.00. They now have an “overweight” rating on the stock.
  • 10/31/2024 – MGM Resorts International had its price target lowered by analysts at Mizuho from $57.00 to $56.00. They now have an “outperform” rating on the stock.
  • 10/31/2024 – MGM Resorts International had its price target lowered by analysts at JMP Securities from $56.00 to $54.00. They now have a “market outperform” rating on the stock.
  • 10/23/2024 – MGM Resorts International had its price target lowered by analysts at Truist Financial Co. from $58.00 to $56.00. They now have a “buy” rating on the stock.
  • 10/22/2024 – MGM Resorts International had its price target raised by analysts at Morgan Stanley from $43.00 to $44.00. They now have an “equal weight” rating on the stock.
  • 10/17/2024 – MGM Resorts International had its price target lowered by analysts at Wells Fargo & Company from $53.00 to $47.00. They now have an “overweight” rating on the stock.
  • 10/17/2024 – MGM Resorts International had its price target lowered by analysts at Barclays PLC from $56.00 to $54.00. They now have an “overweight” rating on the stock.
  • 10/14/2024 – MGM Resorts International had its price target lowered by analysts at JMP Securities from $57.00 to $56.00. They now have a “market outperform” rating on the stock.
  • 10/1/2024 – MGM Resorts International had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $57.00 to $52.00. They now have a “buy” rating on the stock.

MGM Resorts International Stock Performance

MGM traded down $0.31 during mid-day trading on Tuesday, reaching $36.09. 2,218,670 shares of the company traded hands, compared to its average volume of 4,105,171. The company’s fifty day moving average price is $38.38 and its 200-day moving average price is $40.10. The stock has a market capitalization of $10.75 billion, a P/E ratio of 12.89, a P/E/G ratio of 2.60 and a beta of 2.23. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24.

MGM Resorts International (NYSE:MGM – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The business had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. MGM Resorts International’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 EPS. On average, sell-side analysts expect that MGM Resorts International will post 2.5 EPS for the current year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MGM Resorts International

Several large investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of MGM Resorts International by 1.8% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 455,672 shares of the company’s stock worth $17,812,000 after purchasing an additional 7,917 shares in the last quarter. Entropy Technologies LP increased its stake in MGM Resorts International by 156.9% in the 3rd quarter. Entropy Technologies LP now owns 55,311 shares of the company’s stock worth $2,162,000 after buying an additional 33,777 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in MGM Resorts International by 6.6% during the third quarter. Apollon Wealth Management LLC now owns 10,997 shares of the company’s stock valued at $430,000 after acquiring an additional 681 shares during the period. Venturi Wealth Management LLC lifted its position in shares of MGM Resorts International by 52.7% in the third quarter. Venturi Wealth Management LLC now owns 3,754 shares of the company’s stock valued at $147,000 after acquiring an additional 1,295 shares in the last quarter. Finally, Consolidated Investment Group LLC lifted its position in shares of MGM Resorts International by 7.7% in the third quarter. Consolidated Investment Group LLC now owns 213,073 shares of the company’s stock valued at $8,329,000 after acquiring an additional 15,300 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

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.

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