MGM Resorts International (NYSE:MGM) Given New $28.00 Price Target at Wells Fargo & Company

MGM Resorts International (NYSE:MGM) had its price target cut by Wells Fargo & Company from $29.00 to $28.00 in a research note published on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other analysts also recently issued reports about the stock. Morgan Stanley dropped their target price on shares of MGM Resorts International from $43.00 to $29.00 and set an “underweight” rating on the stock in a report on Monday, October 19th. Susquehanna reduced their target price on shares of MGM Resorts International from $46.00 to $41.00 and set a “positive” rating for the company in a report on Thursday, October 8th. Mizuho set a $50.00 target price on shares of MGM Resorts International in a report on Thursday. Truist Financial decreased their price target on shares of MGM Resorts International from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $26.00 price target on shares of MGM Resorts International in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $45.18.

MGM Resorts International Trading Up 3.8%

Shares of MGM stock opened at $29.92 on Friday. The stock has a 50-day simple moving average of $34.79 and a 200 day simple moving average of $39.00. MGM Resorts International has a fifty-two week low of $26.71 and a fifty-two week high of $51.59. The stock has a market capitalization of $7.57 billion, a P/E ratio of 11.38, a P/E/G ratio of 1.62 and a beta of 1.35. The company has a quick ratio of 1.30, a current ratio of 1.24 and a debt-to-equity ratio of 1.68.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 28th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.15). MGM Resorts International had a return on equity of 20.58% and a net margin of 3.92%. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter last year, the firm posted $0.24 earnings per share. MGM Resorts International’s revenue was down .9% compared to the same quarter last year. On average, sell-side analysts expect that MGM Resorts International will post 1.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MGM Resorts International

A number of large investors have recently made changes to their positions in the company. Whittier Trust Co. grew its holdings in MGM Resorts International by 2.5% in the 1st quarter. Whittier Trust Co. now owns 10,778 shares of the company’s stock worth $405,000 after acquiring an additional 262 shares during the last quarter. Tema ETFs LLC increased its position in shares of MGM Resorts International by 10.6% in the second quarter. Tema ETFs LLC now owns 3,016 shares of the company’s stock valued at $144,000 after acquiring an additional 290 shares during the period. New Mexico Educational Retirement Board raised its stake in shares of MGM Resorts International by 4.4% during the second quarter. New Mexico Educational Retirement Board now owns 9,550 shares of the company’s stock valued at $457,000 after acquiring an additional 400 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of MGM Resorts International by 41.3% during the third quarter. Versant Capital Management Inc now owns 1,437 shares of the company’s stock valued at $45,000 after acquiring an additional 420 shares during the last quarter. Finally, HB Wealth Management LLC boosted its holdings in shares of MGM Resorts International by 2.9% during the first quarter. HB Wealth Management LLC now owns 16,440 shares of the company’s stock worth $608,000 after purchasing an additional 458 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International News Summary

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

• Positive Sentiment: Digital gaming momentum: BetMGM’s third-quarter net revenue increased 7%, and its first 100 days in Alberta reportedly outperformed the company’s Ontario launch, supporting the growth outlook for MGM’s online betting and iGaming operations. BetMGM Marks 100 Days in Alberta
• Positive Sentiment: Macau remains a bright spot: MGM China reported record third-quarter revenue and adjusted EBITDA, while market share reached a record 17.1%, indicating resilient Chinese gaming demand and execution. MGM China Reports 2026 Third-Quarter Results
• Positive Sentiment: Some operational strength: Las Vegas slot win reached a new resort record, and JPMorgan and Truist kept bullish ratings despite lowering their targets. JPMorgan’s revised target implies substantial upside, while Truist maintained a “buy” rating.
• Neutral Sentiment: People Inc. deal talks ended: MGM’s CEO said the company is no longer pursuing negotiations with People Inc. The decision removes potential transaction uncertainty but also eliminates any near-term expansion catalyst. MGM Ends Deal Talks With People Inc.
• Negative Sentiment: Quarterly earnings missed: MGM posted a third-quarter loss of $0.11 per share, versus analyst expectations for a profit, while revenue was roughly flat year over year. MGM Reports Q3 Loss
• Negative Sentiment: Las Vegas weakness is weighing on sentiment: Lower room rates and weaker regional profitability pressured results, contributing to the stock reaching a new 52-week low. MGM Las Vegas Revenue and Earnings Fall
• Negative Sentiment: Analyst caution increased: Wells Fargo cut its target to $28 and assigned an “equal weight” rating. Stifel also lowered its target to $35 and moved to “hold,” while Truist and JPMorgan reduced their targets despite retaining bullish ratings.

About MGM Resorts International

MGM Resorts International is a global hospitality and entertainment company that develops, owns, and operates destination resorts featuring casinos, hotels, restaurants, entertainment venues, convention facilities, retail spaces, and nightlife offerings. Its portfolio includes well-known properties such as MGM Grand, Bellagio, ARIA, Mandalay Bay, and The Cosmopolitan of Las Vegas.

The company serves customers through properties in Las Vegas and other U.S. markets, including regional destinations in Michigan, Maryland, Massachusetts, Mississippi, New Jersey, New York, and Ohio.