MGM Resorts International (NYSE:MGM) Sets New 1-Year High After Analyst Upgrade

MGM Resorts International (NYSE:MGM) reached a new 52-week high during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $41.00 to $42.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. MGM Resorts International traded as high as $40.20 and last traded at $39.3260, with a volume of 1427610 shares. The stock had previously closed at $38.49.

Several other analysts also recently issued reports on MGM. Barclays set a $37.00 price objective on MGM Resorts International in a report on Friday, February 6th. Morgan Stanley lifted their price objective on shares of MGM Resorts International from $34.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 8th. Zacks Research upgraded shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Wells Fargo & Company lowered their price objective on shares of MGM Resorts International from $31.00 to $30.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $41.80.

Insider Buying and Selling

In related news, major shareholder Iac Inc. bought 450,000 shares of the business’s stock in a transaction on Tuesday, March 24th. The stock was bought at an average price of $37.13 per share, for a total transaction of $16,708,500.00. Following the transaction, the insider directly owned 66,822,350 shares in the company, valued at $2,481,113,855.50. This represents a 0.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith A. Meister sold 37,500 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the completion of the sale, the director owned 5,347,978 shares of the company’s stock, valued at approximately $183,275,206.06. The trade was a 0.70% decrease in their position. The SEC filing for this sale provides additional information. 3.38% of the stock is owned by corporate insiders.

MGM Resorts International News Summary

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

• Positive Sentiment: MGM reached a new 52‑week high, signaling continued investor confidence after recent earnings beats and steady demand trends for leisure and casino activity. MGM stock hits 52-week high at 40.17 USD
• Positive Sentiment: JPMorgan raised its price target on MGM to $42 (from $41) — a modest lift that supports upside expectations even as the firm kept a “neutral” rating. This can buoy sentiment among investors seeking near‑term appreciation. MGM Resorts International (NYSE:MGM) Price Target Raised to $42.00 at JPMorgan Chase & Co.
• Positive Sentiment: CEO Bill Hornbuckle reported meeting China’s vice premier to discuss bilateral tourism — a potential positive for future inbound travel and VIP/wholesale business if it leads to increased Chinese visitation or partnerships. MGM’s Bill Hornbuckle says he met China vice premier He Lifeng in Beijing amid talks on bilateral tourism
• Neutral Sentiment: General market/sector commentary (e.g., IAC coverage) mentioned in feeds is not directly material to MGM but can influence sentiment in leisure/online travel peers. IAC Inc. Has Surged Over 25% In Six Months, Here Is Why?
• Negative Sentiment: Class‑action settlement approval hearings are underway in Canada (British Columbia and Québec) covering a 2019 data incident and a 2023 incident; proposed settlements could lead to multimillion‑dollar payouts and ongoing reputational/legal costs. This is the primary near‑term legal overhang. MGM – CLASS ACTION ARISING OUT OF A 2019 CONFIDENTIALITY INCIDENT INVOLVING PERSONAL INFORMATION
• Negative Sentiment: Coverage notes Canadians could receive up to CAD$20,000 each under the proposed settlement, highlighting direct cash exposure and potential consumer backlash in a key market. Canadians could get up to $20K in multimillion-dollar data breach settlement

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC grew its position in MGM Resorts International by 202.5% in the third quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock worth $292,772,000 after acquiring an additional 5,654,757 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in MGM Resorts International by 81.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock worth $264,874,000 after acquiring an additional 3,429,946 shares in the last quarter. Davis Selected Advisers lifted its position in shares of MGM Resorts International by 12.0% in the fourth quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock worth $978,669,000 after buying an additional 2,866,750 shares during the last quarter. Norges Bank acquired a new stake in shares of MGM Resorts International in the fourth quarter worth about $82,348,000. Finally, Samlyn Capital LLC acquired a new stake in shares of MGM Resorts International in the third quarter worth about $62,787,000. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Stock Up 0.2%

The business has a 50-day simple moving average of $36.49 and a two-hundred day simple moving average of $35.01. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 51.44 and a beta of 1.35. The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 1.91.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.96. MGM Resorts International had a return on equity of 26.04% and a net margin of 1.17%.The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter in the previous year, the firm earned $0.45 earnings per share. As a group, equities analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

About MGM Resorts International

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.