MGM Resorts International (NYSE:MGM) Given New $62.00 Price Target at Mizuho

MGM Resorts International (NYSE:MGM) had its price target raised by Mizuho from $61.00 to $62.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

MGM has been the topic of a number of other reports. Barclays lowered their price objective on MGM Resorts International from $57.00 to $55.00 and set an overweight rating on the stock in a research note on Wednesday, February 14th. StockNews.com downgraded MGM Resorts International from a buy rating to a hold rating in a research report on Monday, March 4th. JPMorgan Chase & Co. boosted their price objective on MGM Resorts International from $52.00 to $54.00 and gave the company an overweight rating in a research note on Wednesday, February 14th. JMP Securities reiterated a market outperform rating and set a $57.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. Finally, TheStreet upgraded shares of MGM Resorts International from a c+ rating to a b- rating in a research note on Tuesday, February 13th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $54.77.

MGM Resorts International Trading Up 0.4 %

Shares of MGM stock opened at $41.04 on Thursday. MGM Resorts International has a 52-week low of $34.12 and a 52-week high of $51.35. The company has a 50-day simple moving average of $43.52 and a two-hundred day simple moving average of $42.24. The company has a market capitalization of $12.87 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.67 and a beta of 2.22. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.53 and a current ratio of 1.51.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the company earned $0.44 EPS. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. Research analysts anticipate that MGM Resorts International will post 2.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of institutional investors have recently modified their holdings of MGM. CVA Family Office LLC purchased a new stake in MGM Resorts International in the 4th quarter worth approximately $28,000. Sandy Spring Bank boosted its holdings in MGM Resorts International by 140.8% in the third quarter. Sandy Spring Bank now owns 855 shares of the company’s stock valued at $31,000 after acquiring an additional 500 shares in the last quarter. Accent Capital Management LLC purchased a new stake in shares of MGM Resorts International in the 4th quarter worth about $45,000. Mendota Financial Group LLC boosted its stake in shares of MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock valued at $47,000 after purchasing an additional 266 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its stake in MGM Resorts International by 49.7% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,105 shares of the company’s stock worth $49,000 after buying an additional 367 shares in the last quarter. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. 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.