MGM Resorts International (NYSE:MGM) Price Target Raised to $60.00 at Mizuho

MGM Resorts International (NYSE:MGM) had its price target increased by Mizuho from $56.00 to $60.00 in a report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. Susquehanna Bancshares lifted their price target on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday. Truist Financial cut their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group decreased their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Morgan Stanley upped their price target on MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Capital One Financial increased their target price on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.47.

MGM Resorts International Stock Down 1.4 %

MGM stock opened at $39.82 on Thursday. The firm has a market cap of $11.85 billion, a PE ratio of 14.22, a P/E/G ratio of 2.94 and a beta of 2.20. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a 50 day simple moving average of $34.38 and a 200 day simple moving average of $36.77.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. Equities research analysts forecast that MGM Resorts International will post 2.37 earnings per share for the current fiscal year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares in the company, valued at $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MGM Resorts International

Large investors have recently made changes to their positions in the business. Empower Advisory Group LLC increased its position in MGM Resorts International by 4.2% in the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after buying an additional 62,997 shares during the period. Goldentree Asset Management LP raised its stake in MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after purchasing an additional 1,390,599 shares during the last quarter. Miracle Mile Advisors LLC acquired a new position in MGM Resorts International during the 4th quarter valued at $2,010,000. Assenagon Asset Management S.A. raised its stake in MGM Resorts International by 80.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock valued at $12,411,000 after purchasing an additional 159,522 shares during the last quarter. Finally, Zacks Investment Management increased its holdings in shares of MGM Resorts International by 7.8% during the 3rd quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock worth $15,651,000 after purchasing an additional 29,107 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

About MGM Resorts International

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.