MGM Resorts International (NYSE:MGM) Rating Lowered to Neutral at BTIG Research

MGM Resorts International (NYSE:MGM) was downgraded by investment analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports.

Several other equities analysts have also commented on MGM. Morgan Stanley increased their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a report on Thursday, January 16th. Mizuho lowered their price objective on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company cut their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Finally, Truist Financial lowered their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International currently has an average rating of “Moderate Buy” and an average price target of $51.93.

MGM Resorts International Trading Up 1.2 %

Shares of NYSE:MGM opened at $34.56 on Monday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a market capitalization of $10.29 billion, a P/E ratio of 12.34, a P/E/G ratio of 2.93 and a beta of 2.20. The business’s 50-day moving average is $34.65 and its 200 day moving average is $37.12. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MGM. Empower Advisory Group LLC increased its stake in MGM Resorts International by 4.2% during the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after buying an additional 62,997 shares in the last quarter. Goldentree Asset Management LP lifted its holdings in MGM Resorts International by 86.4% in the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares in the last quarter. Miracle Mile Advisors LLC acquired a new stake in MGM Resorts International during the 4th quarter worth $2,010,000. Assenagon Asset Management S.A. raised its position in shares of MGM Resorts International by 80.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock valued at $12,411,000 after buying an additional 159,522 shares during the last quarter. Finally, Zacks Investment Management lifted its stake in shares of MGM Resorts International by 7.8% in the third quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock worth $15,651,000 after buying an additional 29,107 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Company Profile

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.