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

MGM Resorts International (NYSE:MGM) had its target price upped by analysts at Mizuho from $56.00 to $60.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price target would suggest a potential upside of 74.72% from the company’s previous close.

Several other analysts also recently commented on the company. Wells Fargo & Company reduced their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Jefferies Financial Group reduced their price objective on 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. BTIG Research lowered MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Susquehanna Bancshares lifted their price target on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday. Finally, Truist Financial lowered their price objective 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. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and an average price target of $51.94.

MGM Resorts International Trading Up 0.2 %

Shares of MGM stock opened at $34.34 on Thursday. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The stock has a 50 day simple moving average of $34.25 and a two-hundred day simple moving average of $36.81. The company has a market cap of $10.22 billion, a P/E ratio of 12.26, a PEG ratio of 2.94 and a beta of 2.20.

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

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MGM Resorts International

Large investors have recently made changes to their positions in the business. Norges Bank bought a new position in MGM Resorts International during the fourth quarter valued at about $88,033,000. HG Vora Capital Management LLC purchased a new position in MGM Resorts International in the third quarter valued at about $97,725,000. Goldentree Asset Management LP grew its position in shares of 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 acquiring an additional 1,390,599 shares during the period. Davis Selected Advisers increased its stake in shares of MGM Resorts International by 4.6% during the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company’s stock worth $690,253,000 after purchasing an additional 882,417 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of MGM Resorts International in the 4th quarter worth approximately $20,053,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

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.