MGM jumps 9% on dual Wall Street upgrades and brighter Las Vegas outlook

MGM Resorts International (MGM) is up 9.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears primarily driven by a one-two punch of analyst upgrades, with both JPMorgan and Truist turning more constructive on Las Vegas Strip trends and valuation. Recent company results and ongoing share repurchases may have added fuel by reinforcing the idea that MGM can compound shareholder returns if Strip fundamentals continue to stabilize.

Details:

JPMorgan upgraded MGM to Overweight from Neutral and raised its price target to $46 (from $41), highlighting a more favorable setup for Las Vegas expectations and valuation.

Truist upgraded MGM to Buy from Hold and lifted its price target to $55 (from $42), pointing to improving second-quarter Strip room-rate and demand indicators.

In its April 29, 2026 quarterly release, MGM reported record Q1 consolidated net revenues of $4.5 billion (+4% year over year), with management citing strengthening monthly trends into March.

The same quarterly release disclosed roughly $90 million of share repurchases in Q1 2026 (about 2 million shares), with about $1.5 billion remaining under the repurchase authorization as of March 31, 2026.

Sources:

MGM Resorts International Investor Relations, MarketBeat, Casino.org

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$MGM Insider Trading Activity

$MGM insiders have traded $MGM stock on the open market 5 times in the past 6 months. Of those trades, 3 have been purchases and 2 have been sales.

Here’s a breakdown of recent trading of $MGM stock by insiders over the last 6 months:

INC. IAC has made 3 purchases buying 2,098,748 shares for an estimated $77,108,052 and 0 sales.
KEITH A. MEISTER sold 37,500 shares for an estimated $1,285,125
DANIEL J TAYLOR sold 6,675 shares for an estimated $256,586

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$MGM Hedge Fund Activity

We have seen 242 institutional investors add shares of $MGM stock to their portfolio, and 400 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

ARROWSTREET CAPITAL, LIMITED PARTNERSHIP removed 4,926,021 shares (-69.4%) from their portfolio in Q1 2026, for an estimated $182,312,037
POINT72 ASSET MANAGEMENT, L.P. added 4,262,249 shares (+inf%) to their portfolio in Q1 2026, for an estimated $157,745,835
AQR CAPITAL MANAGEMENT LLC removed 4,176,953 shares (-56.7%) from their portfolio in Q1 2026, for an estimated $154,589,030
DAVIS SELECTED ADVISERS removed 2,524,864 shares (-9.4%) from their portfolio in Q1 2026, for an estimated $93,445,216
SAMLYN CAPITAL, LLC removed 1,811,526 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $66,102,583
FULLER & THALER ASSET MANAGEMENT, INC. removed 1,774,303 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $64,744,316
BNP PARIBAS FINANCIAL MARKETS removed 1,161,397 shares (-71.0%) from their portfolio in Q1 2026, for an estimated $42,983,302

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$MGM Analyst Ratings

Wall Street analysts have issued reports on $MGM in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Macquarie issued a "Outperform" rating on 05/19/2026

To track analyst ratings and price targets for $MGM, check out Quiver Quantitative's $MGM forecast page.

$MGM Price Targets

Multiple analysts have issued price targets for $MGM recently. We have seen 10 analysts offer price targets for $MGM in the last 6 months, with a median target of $40.5.

Here are some recent targets:

Chad Beynon from Macquarie set a target price of $46.0 on 05/19/2026
David Katz from Jefferies set a target price of $44.0 on 05/01/2026
James Hardiman from Citigroup set a target price of $40.0 on 05/01/2026
Trey Bowers from Wells Fargo set a target price of $33.0 on 04/30/2026
Barry Jonas from Truist Securities set a target price of $42.0 on 04/30/2026
Brandt Montour from Barclays set a target price of $39.0 on 04/30/2026
Daniel Politzer from JP Morgan set a target price of $41.0 on 04/30/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.