MGM Resorts International (NYSE:MGM – Get Rating) had its target price upped by equities research analysts at Truist Financial from $35.00 to $40.00 in a research report issued to clients and investors on Thursday, The Fly reports. Truist Financial’s price objective suggests a potential upside of 15.24% from the stock’s previous close.
MGM has been the topic of several other reports. StockNews.com cut MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, July 15th. Wells Fargo & Company lifted their price objective on MGM Resorts International from $49.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday. Credit Suisse Group decreased their target price on shares of MGM Resorts International from $76.00 to $72.00 and set an “outperform” rating on the stock in a research note on Thursday. Bank of America decreased their target price on shares of MGM Resorts International from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, April 18th. Finally, UBS Group decreased their target price on shares of MGM Resorts International to $40.00 in a research note on Thursday, June 9th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, MGM Resorts International has a consensus rating of “Moderate Buy” and an average target price of $53.18.
MGM Resorts International Trading Down 2.1 %
MGM stock opened at $34.71 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.23 and a debt-to-equity ratio of 1.06. MGM Resorts International has a 12-month low of $26.41 and a 12-month high of $51.17. The stock has a market cap of $14.79 billion, a price-to-earnings ratio of 4.86 and a beta of 2.14. The business’s 50-day moving average is $31.05 and its 200 day moving average is $37.47.
Insider Activity at MGM Resorts International
Hedge Funds Weigh In On MGM Resorts International
Institutional investors have recently modified their holdings of the business. Chilton Capital Management LLC acquired a new position in shares of MGM Resorts International in the fourth quarter worth $25,000. UMB Bank N A MO acquired a new position in shares of MGM Resorts International during the fourth quarter worth $29,000. Capital Advisory Group Advisory Services LLC acquired a new position in shares of MGM Resorts International during the first quarter worth $29,000. First Horizon Advisors Inc. grew its stake in shares of MGM Resorts International by 715.4% during the first quarter. First Horizon Advisors Inc. now owns 742 shares of the company’s stock worth $31,000 after purchasing an additional 651 shares in the last quarter. Finally, Ellevest Inc. grew its stake in shares of MGM Resorts International by 70.4% during the second quarter. Ellevest Inc. now owns 1,072 shares of the company’s stock worth $31,000 after purchasing an additional 443 shares in the last quarter. Institutional investors and hedge funds own 85.76% of the company’s stock.
About MGM Resorts International
MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. 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.
- Get a free copy of the StockNews.com research report on MGM Resorts International (MGM)
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