Susquehanna Lowers MGM Resorts International (NYSE:MGM) Price Target to $45.00

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

MGM has been the topic of several other reports. Truist Financial increased their price objective on shares of MGM Resorts International from $38.00 to $39.00 and gave the company a “hold” rating in a research report on Friday. Stifel Nicolaus raised their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of MGM Resorts International from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday. Texas Capital upgraded MGM Resorts International to a “strong-buy” rating in a research note on Thursday, January 8th. Finally, Argus decreased their price target on MGM Resorts International from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $43.82.

Get Our Latest Stock Report on MGM Resorts International

MGM Resorts International Stock Up 3.3%

MGM stock opened at $37.49 on Friday. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $41.32. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 1.80. The firm has a market cap of $10.25 billion, a PE ratio of 49.99 and a beta of 1.44. The business has a 50 day moving average of $35.62 and a 200 day moving average of $35.03.

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, topping the consensus estimate of $0.64 by $0.96. MGM Resorts International had a return on equity of 25.46% and a net margin of 1.17%.The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same period in the previous year, the company posted $0.45 earnings per share. On average, research analysts forecast that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Activity

In other MGM Resorts International news, major shareholder Iac Inc. purchased 1,098,748 shares of MGM Resorts International stock in a transaction dated Friday, December 5th. The stock was purchased at an average price of $36.30 per share, with a total value of $39,884,552.40. Following the transaction, the insider directly owned 65,822,350 shares of the company’s stock, valued at $2,389,351,305. This trade represents a 1.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.06% of the stock is currently owned by corporate insiders.

Institutional Trading of MGM Resorts International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MGM. Americana Partners LLC raised its position in MGM Resorts International by 14.3% in the fourth quarter. Americana Partners LLC now owns 9,418 shares of the company’s stock worth $344,000 after acquiring an additional 1,180 shares during the period. Global Retirement Partners LLC raised its holdings in MGM Resorts International by 55.9% in the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock worth $29,000 after purchasing an additional 281 shares during the period. Covestor Ltd raised its holdings in MGM Resorts International by 120.3% in the 4th quarter. Covestor Ltd now owns 1,441 shares of the company’s stock worth $53,000 after purchasing an additional 787 shares during the period. 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 purchasing an additional 537 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in MGM Resorts International by 3.7% during the fourth quarter. ProShare Advisors LLC now owns 56,888 shares of the company’s stock valued at $2,076,000 after purchasing an additional 2,042 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting MGM Resorts International

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

About MGM Resorts International

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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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