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

MGM Resorts International (NYSE:MGMFree Report) had its price target trimmed by Susquehanna from $46.00 to $45.00 in a research note issued to investors on Friday,MarketScreener reports. The firm currently has a positive rating on the stock.

A number of other research firms have also recently commented on MGM. Zacks Research upgraded MGM Resorts International from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Wells Fargo & Company lifted their target price on MGM Resorts International from $29.00 to $31.00 and gave the company an “underweight” rating in a research report on Friday, January 16th. The Goldman Sachs Group reiterated a “sell” rating and set a $33.00 price target on shares of MGM Resorts International in a report on Monday, December 15th. Weiss Ratings reissued a “sell (d)” rating on shares of MGM Resorts International in a research report on Monday, December 29th. Finally, Citigroup decreased their target price on shares of MGM Resorts International from $51.00 to $47.50 and set a “buy” rating on the stock in a research report on Thursday, October 30th. One 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 given a Sell rating to the stock. According to data from MarketBeat.com, MGM Resorts International currently has an average rating of “Hold” and an average price target of $43.82.

View Our Latest Analysis on MGM Resorts International

MGM Resorts International Stock Up 3.3%

NYSE MGM opened at $37.49 on Friday. The business’s fifty day simple moving average is $35.62 and its 200-day simple moving average is $34.98. 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. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $41.32.

MGM Resorts International (NYSE:MGMGet Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.96. MGM Resorts International had a net margin of 1.17% and a return on equity of 25.46%. The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same period last year, the business earned $0.45 earnings per share. As a group, equities analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.

Insider Activity at MGM Resorts International

In other news, major shareholder Iac Inc. acquired 1,098,748 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was acquired at an average cost of $36.30 per share, with a total value of $39,884,552.40. Following the transaction, the insider owned 65,822,350 shares in the company, valued at approximately $2,389,351,305. This trade represents a 1.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in MGM Resorts International by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,652 shares of the company’s stock valued at $582,000 after acquiring an additional 951 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of MGM Resorts International by 12.1% during the first quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock worth $115,000 after purchasing an additional 421 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of MGM Resorts International by 39.1% during the first quarter. Woodline Partners LP now owns 18,901 shares of the company’s stock worth $560,000 after purchasing an additional 5,312 shares during the period. Valeo Financial Advisors LLC purchased a new position in MGM Resorts International in the 2nd quarter valued at $236,000. Finally, Callan Family Office LLC acquired a new position in MGM Resorts International in the 2nd quarter valued at $545,000. 68.11% of the stock is owned by institutional investors and hedge funds.

Key MGM Resorts International News

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.

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