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

MGM Resorts International (NYSE:MGM) had its price target lifted by Mizuho from $56.00 to $60.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also recently commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a research note on Thursday, January 16th. Jefferies Financial Group reduced their target price 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. Morgan Stanley lifted their price target on shares of 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. Truist Financial reduced 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 research note on Tuesday, January 14th. Finally, BTIG Research downgraded shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a research report on Monday, February 3rd. Four investment 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, MGM Resorts International has an average rating of “Moderate Buy” and a consensus target price of $51.47.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $39.82 on Thursday. The firm has a market capitalization of $11.85 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 2.94 and a beta of 2.20. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24. The stock’s 50 day moving average price is $34.38 and its 200 day moving average price is $36.77. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24.

MGM Resorts International (NYSE:MGM) last announced its earnings results 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%. As a group, sell-side analysts expect that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Insider Activity at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.13% of the stock is currently owned by insiders.

Institutional Trading of MGM Resorts International

Large investors have recently added to or reduced their stakes in the business. MidAtlantic Capital Management Inc. acquired a new position in shares of MGM Resorts International during the third quarter valued at $28,000. Global Trust Asset Management LLC bought a new stake in shares of MGM Resorts International during the 4th quarter worth about $28,000. Assetmark Inc. lifted its stake in shares of MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after acquiring an additional 411 shares during the period. Eastern Bank bought a new position in shares of MGM Resorts International in the third quarter valued at approximately $35,000. Finally, Global Retirement Partners LLC increased its stake in shares of MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after acquiring an additional 404 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

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.