MGM Resorts International (NYSE:MGM) Price Target Lowered to $37.00 at UBS Group

MGM Resorts International (NYSE:MGM) had its price target decreased by UBS Group from $39.00 to $37.00 in a report released on Monday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $31.00 price target on shares of MGM Resorts International in a report on Thursday, October 30th. Susquehanna raised their price objective on shares of MGM Resorts International from $50.00 to $60.00 and gave the company a “positive” rating in a research report on Tuesday, July 29th. JPMorgan Chase & Co. dropped their target price on shares of MGM Resorts International from $41.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Macquarie decreased their price target on shares of MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating on the stock in a research note on Thursday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of MGM Resorts International from $54.00 to $53.00 in a report on Monday, September 22nd. Fourteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $46.92.

MGM Resorts International Stock Down 3.3%

Shares of MGM opened at $31.39 on Monday. The company has a market capitalization of $8.59 billion, a P/E ratio of 196.19, a PEG ratio of 1.40 and a beta of 1.66. MGM Resorts International has a one year low of $25.30 and a one year high of $41.32. The business’s 50 day simple moving average is $33.38 and its 200-day simple moving average is $34.57. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.18.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.13). The business had revenue of $4.25 billion during the quarter, compared to the consensus estimate of $4.24 billion. MGM Resorts International had a net margin of 0.40% and a return on equity of 16.95%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 EPS. As a group, sell-side analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Activity at MGM Resorts International

In related news, insider John Mcmanus sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $36.12, for a total transaction of $2,167,200.00. Following the completion of the sale, the insider directly owned 31,521 shares of the company’s stock, valued at $1,138,538.52. The trade was a 65.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Keith A. Meister sold 242,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the completion of the transaction, the director owned 5,385,478 shares in the company, valued at $190,753,630.76. This represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Helikon Investments Ltd grew its stake in shares of MGM Resorts International by 379.9% during the second quarter. Helikon Investments Ltd now owns 8,810,322 shares of the company’s stock worth $302,987,000 after purchasing an additional 6,974,347 shares during the period. AQR Capital Management LLC boosted its holdings in MGM Resorts International by 202.5% during the third quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock worth $292,772,000 after buying an additional 5,654,757 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of MGM Resorts International during the 2nd quarter worth about $171,632,000. Arrowstreet Capital Limited Partnership grew its position in shares of MGM Resorts International by 81.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock worth $264,874,000 after buying an additional 3,429,946 shares during the period. Finally, Davis Selected Advisers increased its stake in shares of MGM Resorts International by 14.4% in the 2nd quarter. Davis Selected Advisers now owns 23,821,109 shares of the company’s stock valued at $819,208,000 after acquiring an additional 3,006,052 shares during the last quarter. 68.11% of the stock is currently owned by institutional investors.

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.