MGM Resorts International (NYSE:MGM – Get Free Report) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $41.00 to $42.00 in a research report issued on Thursday, Marketbeat reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 8.86% from the company’s previous close.
Several other research analysts have also recently weighed in on MGM. 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of MGM Resorts International from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Morgan Stanley upped their price objective on shares of MGM Resorts International from $34.00 to $35.00 and gave the company an “underweight” rating in a research report on Wednesday, April 8th. Barclays set a $37.00 price objective on shares of MGM Resorts International in a research report on Friday, February 6th. Finally, Citigroup upped their price objective on MGM Resorts International from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $41.80.
Check Out Our Latest Research Report on MGM Resorts International
MGM Resorts International Stock Up 0.2%
MGM Resorts International (NYSE:MGM – Get Free Report) last posted its earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.96. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. 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 company posted $0.45 earnings per share. Equities analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.
Insider Transactions at MGM Resorts International
In other MGM Resorts International news, Director Keith A. Meister sold 37,500 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were 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 directly owned 5,347,978 shares in the company, valued at $183,275,206.06. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Iac Inc. acquired 550,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were bought at an average price of $37.30 per share, with a total value of $20,515,000.00. Following the completion of the transaction, the insider directly owned 66,372,350 shares of the company’s stock, valued at approximately $2,475,688,655. The trade was a 0.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.38% of the company’s stock.
Institutional Investors Weigh In On MGM Resorts International
Several hedge funds have recently bought and sold shares of MGM. AQR Capital Management LLC grew its position 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 in the last quarter. Arrowstreet Capital Limited Partnership increased its stake 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 valued at $264,874,000 after acquiring an additional 3,429,946 shares during the last quarter. Davis Selected Advisers increased its stake in MGM Resorts International by 12.0% in the fourth quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock valued at $978,669,000 after acquiring an additional 2,866,750 shares during the last quarter. Norges Bank bought a new stake in shares of MGM Resorts International during the fourth quarter worth $82,348,000. Finally, Samlyn Capital LLC bought a new stake in shares of MGM Resorts International during the third quarter worth $62,787,000. 68.11% of the stock is currently owned by institutional investors and hedge funds.
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
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.
Further Reading
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