MGM Resorts International (NYSE:MGM) Stock Rating Lowered by BTIG Research

BTIG Research cut shares of MGM Resorts International (NYSE:MGM) from a buy rating to a neutral rating in a research note released on Monday morning, Marketbeat Ratings reports.

Several other research analysts also recently weighed in on the company. Truist Financial cut their price target on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Barclays reduced their target price on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, December 13th. Mizuho lowered their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company cut their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Finally, Jefferies Financial Group lowered their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and a consensus target price of $51.93.

MGM Resorts International Price Performance

MGM stock opened at $34.24 on Monday. The stock’s 50 day moving average price is $34.59 and its 200 day moving average price is $37.10. The firm has a market cap of $10.19 billion, a P/E ratio of 12.23, a PEG ratio of 2.93 and a beta of 2.20. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24.

Insider Activity

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

Institutional Investors Weigh In On MGM Resorts International

Institutional investors have recently added to or reduced their stakes in the stock. MidAtlantic Capital Management Inc. acquired a new position in MGM Resorts International during the third quarter worth $28,000. Global Trust Asset Management LLC bought a new stake in shares of MGM Resorts International in the 4th quarter worth about $28,000. Eastern Bank acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth about $35,000. Global Retirement Partners LLC lifted its holdings in MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after purchasing an additional 404 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in MGM Resorts International in the third quarter valued at about $44,000. 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.