MGM Resorts International (NYSE:MGM) Research Coverage Started at Mizuho

Mizuho initiated coverage on shares of MGM Resorts International (NYSE:MGM) in a research note published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $61.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley upped their price objective on shares of MGM Resorts International from $44.00 to $45.00 and gave the stock an equal weight rating in a research report on Wednesday, February 28th. Truist Financial reissued a buy rating and set a $55.00 target price on shares of MGM Resorts International in a research note on Tuesday, December 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of MGM Resorts International from $50.00 to $52.00 and gave the stock a buy rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. increased their target price on shares of MGM Resorts International from $52.00 to $54.00 and gave the stock an overweight rating in a research note on Wednesday, February 14th. Finally, TheStreet raised shares of MGM Resorts International from a c+ rating to a b- rating in a research note on Tuesday, February 13th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $55.28.

MGM Resorts International Price Performance

Shares of NYSE:MGM opened at $47.21 on Tuesday. The firm has a 50 day moving average of $43.69 and a 200-day moving average of $41.23. The stock has a market capitalization of $14.97 billion, a PE ratio of 14.89, a PEG ratio of 1.54 and a beta of 2.18. The company has a current ratio of 1.57, a quick ratio of 1.53 and a debt-to-equity ratio of 1.46. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $51.35.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.67 by $0.39. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 EPS. On average, equities research analysts predict that MGM Resorts International will post 2.53 EPS for the current fiscal year.

Insider Activity

In other news, Director Keith A. Meister sold 325,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares in the company, valued at $261,637,576.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.13% of the stock is currently owned by corporate insiders.

Institutional Trading of MGM Resorts International

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of MGM Resorts International by 1.3% in the second quarter. BlackRock Inc. now owns 22,227,721 shares of the company’s stock valued at $976,241,000 after purchasing an additional 290,839 shares during the last quarter. Bamco Inc. NY increased its holdings in MGM Resorts International by 4.5% during the third quarter. Bamco Inc. NY now owns 1,912,447 shares of the company’s stock worth $70,302,000 after buying an additional 82,134 shares during the last quarter. Black Swift Group LLC increased its holdings in MGM Resorts International by 133.3% during the third quarter. Black Swift Group LLC now owns 105,000 shares of the company’s stock worth $3,860,000 after buying an additional 60,000 shares during the last quarter. Boston Partners increased its holdings in MGM Resorts International by 1,447.6% during the third quarter. Boston Partners now owns 3,980,892 shares of the company’s stock worth $145,916,000 after buying an additional 3,723,659 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in MGM Resorts International by 544.8% during the third quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock worth $73,364,000 after buying an additional 1,686,267 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

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.