Deutsche Bank Keeps a Hold Rating on MGM Resorts (MGM)


Deutsche Bank analyst Carlo Santarelli maintained a Hold rating on MGM Resorts (MGM) on November 17 and set a price target of $34.00. The company’s shares closed last Monday at $31.82, close to its 52-week high of $32.17.

According to TipRanks.com, Santarelli is a 5-star analyst with an average return of 10.1% and a 67.6% success rate. Santarelli covers the Services sector, focusing on stocks such as International Game Technology, Hilton Worldwide Holdings, and Marriott International.

Currently, the analyst consensus on MGM Resorts is a Moderate Buy with an average price target of $32.71, representing a 3.3% upside. In a report issued on November 14, UBS also maintained a Hold rating on the stock with a $34.00 price target.

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Based on MGM Resorts’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $40.21 million. In comparison, last year the company had a net profit of $139 million.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MGM in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. The firm’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China.

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