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

Mizuho assumed coverage on shares of MGM Resorts International (NYSE:MGM) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $61.00 target price on the stock.

A number of other brokerages have also recently weighed in on MGM. Truist Financial restated a buy rating and set a $55.00 price objective on shares of MGM Resorts International in a research note on Tuesday, December 5th. Morgan Stanley increased their price target on MGM Resorts International from $44.00 to $45.00 and gave the company an equal weight rating in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft increased their price target on MGM Resorts International from $50.00 to $52.00 and gave the company a buy rating in a research note on Wednesday, February 14th. TheStreet raised MGM Resorts International from a c+ rating to a b- rating in a report on Tuesday, February 13th. Finally, Barclays dropped their target price on MGM Resorts International from $57.00 to $55.00 and set an overweight rating on the stock in a report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $55.28.

MGM Resorts International Price Performance

MGM opened at $47.21 on Tuesday. MGM Resorts International has a 52-week low of $34.12 and a 52-week high of $51.35. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 1.46. The business has a fifty day moving average of $43.69 and a 200 day moving average of $41.23. The stock has a market cap of $14.97 billion, a P/E ratio of 14.89, a PEG ratio of 1.54 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.39. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the prior year, the company earned $0.69 EPS. The business’s revenue was up 21.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that MGM Resorts International will post 2.53 EPS for the current year.

Insider Activity

In other news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction on Tuesday, March 12th. The stock was 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 directly owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

A number of institutional investors have recently bought and sold shares of MGM. Regatta Capital Group LLC grew its holdings in shares of MGM Resorts International by 1.8% in the 4th quarter. Regatta Capital Group LLC now owns 13,753 shares of the company’s stock worth $614,000 after acquiring an additional 247 shares during the period. Sandy Spring Bank grew its holdings in shares of MGM Resorts International by 33.7% in the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after acquiring an additional 288 shares during the period. Fifth Third Bancorp grew its holdings in shares of MGM Resorts International by 2.4% in the 3rd quarter. Fifth Third Bancorp now owns 12,173 shares of the company’s stock worth $447,000 after acquiring an additional 289 shares during the period. Kingswood Wealth Advisors LLC grew its holdings in MGM Resorts International by 3.1% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 9,587 shares of the company’s stock valued at $428,000 after buying an additional 292 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in MGM Resorts International by 0.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 80,324 shares of the company’s stock valued at $2,953,000 after buying an additional 302 shares during the last quarter. 68.11% of the stock is 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.