MGM Resorts International (NYSE:MGM) Cut to “Neutral” at BTIG Research

MGM Resorts International (NYSE:MGM) was downgraded by BTIG Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday,Briefing.com Automated Import reports.

Several other equities analysts have also recently weighed in on the stock. Truist Financial decreased their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Mizuho decreased their price target 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. JMP Securities reaffirmed a “market outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, January 16th. Jefferies Financial Group cut their price objective on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Finally, Wells Fargo & Company cut their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.93.

MGM Resorts International Price Performance

Shares of MGM opened at $34.49 on Monday. The stock has a market capitalization of $10.27 billion, a P/E ratio of 12.32, a P/E/G ratio of 2.93 and a beta of 2.20. MGM Resorts International has a twelve month low of $31.61 and a twelve month high of $48.24. The company has a 50 day moving average of $34.80 and a 200-day moving average of $37.27. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.83% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fisher Asset Management LLC lifted its holdings in shares of MGM Resorts International by 2.0% during the third quarter. Fisher Asset Management LLC now owns 4,547,883 shares of the company’s stock worth $177,777,000 after buying an additional 90,645 shares in the last quarter. Goldentree Asset Management LP lifted its holdings in shares of MGM Resorts International by 86.4% during the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after buying an additional 1,390,599 shares in the last quarter. HG Vora Capital Management LLC acquired a new stake in shares of MGM Resorts International during the third quarter worth $97,725,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of MGM Resorts International by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,298,094 shares of the company’s stock worth $89,832,000 after purchasing an additional 123,124 shares during the period. Finally, FMR LLC increased its position in shares of MGM Resorts International by 5.0% in the third quarter. FMR LLC now owns 1,681,699 shares of the company’s stock worth $65,738,000 after purchasing an additional 79,486 shares during the period. 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.