Mizuho Has Lowered Expectations for MGM Resorts International (NYSE:MGM) Stock Price

MGM Resorts International (NYSE:MGM) had its price target trimmed by Mizuho from $57.00 to $56.00 in a research note published on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price objective on MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Susquehanna raised their price objective on shares of MGM Resorts International from $54.00 to $55.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. JMP Securities lowered their target price on shares of MGM Resorts International from $57.00 to $56.00 and set a “market outperform” rating on the stock in a research report on Monday, October 14th. Macquarie reduced their price target on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley boosted their price target on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.15.

MGM Resorts International Trading Down 1.2 %

Shares of MGM Resorts International stock opened at $36.41 on Thursday. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 0.94 and a beta of 2.23. MGM Resorts International has a 52-week low of $33.44 and a 52-week high of $48.24. The company’s 50-day simple moving average is $38.41 and its 200-day simple moving average is $40.15. The company has a quick ratio of 1.42, a current ratio of 1.24 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The business had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. MGM Resorts International’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.64 EPS. As a group, equities research analysts anticipate that MGM Resorts International will post 2.45 earnings per share for the current year.

Insider Transactions at MGM Resorts International

In related news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the sale, the director now owns 5,738,478 shares of the company’s stock, valued at $210,716,912.16. This trade represents a 0.00 % 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. In related news, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the sale, the director now owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul J. Salem purchased 147,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $33.80 per share, with a total value of $4,985,500.00. Following the completion of the acquisition, the director now directly owns 1,702,500 shares in the company, valued at $57,544,500. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 216,400 shares of company stock valued at $7,312,197 over the last three months. 2.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MGM Resorts International

Several large investors have recently added to or reduced their stakes in the business. Goldentree Asset Management LP purchased a new stake in MGM Resorts International in the 1st quarter valued at about $35,726,000. Marshall Wace LLP grew its holdings in MGM Resorts International by 174.8% in the second quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock valued at $49,330,000 after purchasing an additional 706,159 shares during the period. Boston Partners grew its holdings in MGM Resorts International by 12.6% in the first quarter. Boston Partners now owns 6,111,930 shares of the company’s stock valued at $286,933,000 after purchasing an additional 684,676 shares during the period. LSV Asset Management purchased a new position in MGM Resorts International during the second quarter worth approximately $21,149,000. Finally, Shellback Capital LP boosted its holdings in shares of MGM Resorts International by 433.3% in the 2nd quarter. Shellback Capital LP now owns 400,000 shares of the company’s stock valued at $17,776,000 after purchasing an additional 325,000 shares during the last quarter. 68.11% of the stock is currently 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.