Bankof America – MGM Resorts International (NYSE:MGM) Lifted to “Neutral” at Bank of America
MGM Resorts International (NYSE:MGM) was upgraded by equities researchers at Bank of America from an “underperform” rating to a “neutral” rating in a report issued on Monday, Briefing.com reports. The firm currently has a $35.00 price objective on the stock, up from their previous price objective of $25.00. Bank of America‘s price target points to a potential upside of 2.19% from the stock’s current price.
A number of other brokerages have also issued reports on MGM. Macquarie increased their target price on MGM Resorts International from $29.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, December 2nd. KeyCorp initiated coverage on MGM Resorts International in a research report on Wednesday, January 13th. They set a “sector weight” rating on the stock. They noted that the move was a valuation call. Roth Capital increased their target price on MGM Resorts International from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Truist increased their target price on MGM Resorts International from $22.00 to $32.00 in a research report on Monday, November 30th. Finally, Smith Barney Citigroup downgraded MGM Resorts International from a “buy” rating to a “neutral” rating in a research note on Thursday, January 7th. They noted that the move was a valuation call. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $22.41.
Shares of NYSE:MGM opened at $34.25 on Monday. MGM Resorts International has a 1 year low of $5.90 and a 1 year high of $34.66. The firm has a market capitalization of $16.92 billion, a price-to-earnings ratio of 12.23 and a beta of 2.42. The company has a debt-to-equity ratio of 0.98, a current ratio of 2.24 and a quick ratio of 2.20. The business’s 50 day moving average price is $30.60 and its 200-day moving average price is $24.81.
Institutional investors and hedge funds have recently modified their holdings of the business. Advisory Alpha LLC acquired a new stake in shares of MGM Resorts International in the 3rd quarter worth $25,000. price Wealth LLC acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth about $29,000. Clearview Wealth Advisors LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter worth about $29,000. Hoover Financial Advisors Inc. acquired a new stake in shares of MGM Resorts International during the 4th quarter worth about $30,000. Finally, Dimension Capital Management LLC acquired a new stake in shares of MGM Resorts International during the 3rd quarter worth about $33,000. 63.39% of the stock is owned by institutional investors and hedge funds.
MGM Resorts International Company Profile
MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau. 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.
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Bankof America – MGM Resorts International (NYSE:MGM) Lifted to “Neutral” at Bank of America
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