MGM Resorts International (NYSE:MGM) Given New $28.00 Price Target at Wells Fargo & Company

MGM Resorts International (NYSE:MGM) had its price target cut by research analysts at Wells Fargo & Company from $29.00 to $28.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential downside of 6.09% from the stock’s current price.

Several other analysts have also commented on the stock. Susquehanna lowered their price target on shares of MGM Resorts International from $46.00 to $41.00 and set a “positive” rating on the stock in a research report on Thursday, October 8th. Bank of America started coverage on MGM Resorts International in a research report on Thursday, September 24th. They set a “neutral” rating and a $40.00 price objective for the company. Stifel Nicolaus reduced their target price on MGM Resorts International from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday. Morgan Stanley dropped their price target on MGM Resorts International from $43.00 to $29.00 and set an “underweight” rating for the company in a research report on Monday, October 19th. Finally, Citigroup dropped their price target on MGM Resorts International from $48.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, MGM Resorts International has an average rating of “Hold” and an average price target of $45.18.

MGM Resorts International Price Performance

Shares of MGM stock traded up $0.98 during mid-day trading on Friday, reaching $29.82. The stock had a trading volume of 2,572,700 shares, compared to its average volume of 4,392,614. The company has a market cap of $7.50 billion, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 1.52 and a beta of 1.35. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 1.80. MGM Resorts International has a 12-month low of $26.71 and a 12-month high of $51.59. The business has a 50-day simple moving average of $35.06 and a 200 day simple moving average of $39.03.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, October 28th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.15). MGM Resorts International had a net margin of 3.92% and a return on equity of 20.67%. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the previous year, the company posted $0.24 earnings per share. MGM Resorts International’s revenue was down .9% on a year-over-year basis. On average, sell-side analysts anticipate that MGM Resorts International will post 1.79 earnings per share for the current year.

Institutional Trading of MGM Resorts International

Several hedge funds and other institutional investors have recently bought and sold shares of MGM. State Street Corp lifted its stake in shares of MGM Resorts International by 0.8% during the 2nd quarter. State Street Corp now owns 7,047,768 shares of the company’s stock worth $336,954,000 after purchasing an additional 56,072 shares during the period. Montanova Capital LLC grew its position in shares of MGM Resorts International by 7.7% in the second quarter. Montanova Capital LLC now owns 2,325,360 shares of the company’s stock valued at $111,175,000 after purchasing an additional 166,560 shares during the period. Dimensional Fund Advisors LP increased its stake in MGM Resorts International by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,379,727 shares of the company’s stock valued at $88,050,000 after purchasing an additional 36,649 shares during the last quarter. Bank of New York Mellon Corp increased its stake in MGM Resorts International by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 1,598,531 shares of the company’s stock valued at $76,426,000 after purchasing an additional 46,268 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in MGM Resorts International by 5.0% during the second quarter. Allianz Asset Management GmbH now owns 1,037,941 shares of the company’s stock worth $49,624,000 after buying an additional 49,351 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.

MGM Resorts International News Roundup

Here are the key news stories impacting MGM Resorts International this week:

• Positive Sentiment: Macau operations set records: MGM China reported record quarterly revenue and a record 17.1% market share, benefiting from stronger tourist arrivals. Revenue in the China business rose 5% to approximately $1.1 billion. MGM China Reports 2026 Third-Quarter Results
• Positive Sentiment: Digital gaming continues to grow: BetMGM net revenue from operations increased 7% year over year in the third quarter. Its Alberta launch has reportedly gained momentum faster than the Ontario launch after 100 days, adding to the long-term growth opportunity. BetMGM Marks 100 Days in Alberta
• Positive Sentiment: Some Las Vegas trends remain resilient: Third-quarter Las Vegas slot win reached a new resort record, while regional operations revenue increased 1% on a same-store basis. BetMGM distributions and branding fees contributed $34 million to MGM Resorts during the quarter. MGM Resorts Third-Quarter Results
• Neutral Sentiment: Analysts remain broadly constructive but lowered targets: JPMorgan reduced its target to $39 while retaining an overweight rating; Truist cut its target to $40 and kept a buy rating; and Stifel lowered its target to $35 with a hold rating. The revisions reflect near-term concerns but imply substantial upside from recent levels.
• Negative Sentiment: Third-quarter earnings missed expectations: MGM reported a loss of $0.11 per share versus the $0.04 consensus estimate, while revenue of $4.21 billion was down 0.9% year over year and roughly in line with forecasts. MGM Resorts Q3 Earnings Miss Estimates
• Negative Sentiment: Las Vegas weakness is the main concern: Lower room rates and weaker profitability weighed on results, offsetting growth in Macau and digital operations. The stock remains well below its 50-day and 200-day moving averages, indicating continued investor skepticism about the near-term recovery.

About MGM Resorts International

MGM Resorts International is a global hospitality and entertainment company that develops, owns, and operates destination resorts featuring casinos, hotels, restaurants, entertainment venues, convention facilities, retail spaces, and nightlife offerings. Its portfolio includes well-known properties such as MGM Grand, Bellagio, ARIA, Mandalay Bay, and The Cosmopolitan of Las Vegas.

The company serves customers through properties in Las Vegas and other U.S. markets, including regional destinations in Michigan, Maryland, Massachusetts, Mississippi, New Jersey, New York, and Ohio.