MGM Resorts International (NYSE:MGM) Given New $60.00 Price Target at Mizuho

MGM Resorts International (NYSE:MGM) had its target price increased by stock analysts at Mizuho from $56.00 to $60.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective would suggest a potential upside of 50.70% from the company’s current price.

Other equities research analysts have also issued reports about the company. Truist Financial cut their price objective on MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. JMP Securities restated a “market outperform” rating and set a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, January 16th. Jefferies Financial Group dropped their price target on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Wells Fargo & Company dropped their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Finally, Susquehanna Bancshares boosted their target price on MGM Resorts International from $53.00 to $56.00 in a report on Wednesday. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.47.

MGM Resorts International Stock Performance

Shares of NYSE MGM opened at $39.82 on Thursday. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of 14.22, a P/E/G ratio of 2.94 and a beta of 2.20. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. MGM Resorts International has a 1-year low of $31.61 and a 1-year high of $48.24. The stock’s 50-day moving average is $34.38 and its 200 day moving average is $36.81.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping 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%. On average, sell-side analysts anticipate that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its holdings in shares of MGM Resorts International by 12,726.8% during the fourth quarter. AQR Capital Management LLC now owns 1,278,965 shares of the company’s stock valued at $44,316,000 after acquiring an additional 1,268,994 shares during the last quarter. Northern Trust Corp raised its holdings in shares of MGM Resorts International by 15.1% during the fourth quarter. Northern Trust Corp now owns 2,315,748 shares of the company’s stock valued at $80,241,000 after acquiring an additional 303,711 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of MGM Resorts International by 2.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 185,011 shares of the company’s stock valued at $6,411,000 after acquiring an additional 4,541 shares during the last quarter. Quarry LP raised its holdings in shares of MGM Resorts International by 750.6% during the fourth quarter. Quarry LP now owns 1,446 shares of the company’s stock valued at $50,000 after acquiring an additional 1,276 shares during the last quarter. Finally, Aquatic Capital Management LLC raised its holdings in shares of MGM Resorts International by 38.5% during the fourth quarter. Aquatic Capital Management LLC now owns 229,058 shares of the company’s stock valued at $7,937,000 after acquiring an additional 63,658 shares during the last quarter. 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.