Barclays Has Lowered Expectations for MGM Resorts International (NYSE:MGM) Stock Price

MGM Resorts International (NYSE:MGM - Get Free Report) had its target price lowered by research analysts at Barclays from $47.00 to $41.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's target price would suggest a potential upside of 29.38% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC reissued a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Truist Financial decreased their target price on MGM Resorts International from $54.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. JMP Securities dropped their price target on MGM Resorts International from $50.00 to $45.00 and set a "market outperform" rating for the company in a research report on Thursday, April 17th. Susquehanna Bancshares lifted their price target on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group lowered their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $50.06.

MGM Resorts International Price Performance

MGM stock traded up $0.27 on Tuesday, reaching $31.69. 4,627,649 shares of the company's stock were exchanged, compared to its average volume of 4,673,290. The stock has a fifty day moving average of $31.33 and a 200-day moving average of $34.57. The firm has a market cap of $8.97 billion, a PE ratio of 13.20, a P/E/G ratio of 0.98 and a beta of 1.96. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $47.26.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, equities analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the completion of the sale, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. This trade represents a 24.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the purchase, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their position. The disclosure for this purchase can be found here. Insiders own 3.06% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Virtu Financial LLC bought a new stake in MGM Resorts International during the third quarter worth approximately $641,000. Wilmington Savings Fund Society FSB acquired a new position in shares of MGM Resorts International in the 3rd quarter worth $55,000. Tidal Investments LLC lifted its holdings in shares of MGM Resorts International by 269.7% during the third quarter. Tidal Investments LLC now owns 33,050 shares of the company's stock valued at $1,292,000 after purchasing an additional 24,111 shares during the last quarter. Synovus Financial Corp purchased a new stake in MGM Resorts International during the third quarter valued at about $309,000. Finally, Oddo BHF Asset Management Sas acquired a new position in MGM Resorts International in the 3rd quarter worth approximately $1,886,000. 68.11% of the stock is owned by institutional investors and hedge funds.

About MGM Resorts International

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.