MGM Resorts International (NYSE:MGM) Earns Buy Rating from Analysts at Mizuho

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

Several other brokerages have also issued reports on MGM. Barclays decreased their price target on shares of MGM Resorts International from $57.00 to $55.00 and set an overweight rating for the company in a report on Wednesday, February 14th. JMP Securities reissued a market outperform rating and issued a $57.00 price target on shares of MGM Resorts International in a report on Wednesday, February 14th. TheStreet raised shares of MGM Resorts International from a c+ rating to a b- rating in a research report on Tuesday, February 13th. Truist Financial reaffirmed a buy rating and issued a $55.00 price objective on shares of MGM Resorts International in a research report on Tuesday, December 5th. Finally, Morgan Stanley boosted their price objective on shares of MGM Resorts International from $44.00 to $45.00 and gave the company an equal weight rating in a research report on Wednesday, February 28th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently 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. The company has a fifty day moving average price of $43.69 and a two-hundred day moving average price of $41.23. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.53 and a current ratio of 1.57. MGM Resorts International has a 52 week low of $34.12 and a 52 week high of $51.35. The firm has a market capitalization of $14.97 billion, a PE ratio of 14.89, a P/E/G ratio of 1.54 and a beta of 2.18.

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

Insider Activity at MGM Resorts International

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Tyler Stone Wealth Management bought a new stake in shares of MGM Resorts International during the 2nd quarter worth approximately $26,000. CVA Family Office LLC bought a new stake in shares of MGM Resorts International during the 4th quarter worth approximately $28,000. ST Germain D J Co. Inc. bought a new stake in shares of MGM Resorts International during the 2nd quarter worth approximately $31,000. VitalStone Financial LLC lifted its holdings in shares of MGM Resorts International by 108.9% during the 1st quarter. VitalStone Financial LLC now owns 729 shares of the company’s stock worth $33,000 after acquiring an additional 380 shares during the period. Finally, Mendota Financial Group LLC bought a new stake in shares of MGM Resorts International during the 3rd quarter worth approximately $27,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

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.