MGM Resorts International (NYSE:MGM) Price Target Lowered to $56.00 at Mizuho

MGM Resorts International (NYSE:MGM) had its price target reduced by Mizuho from $58.00 to $56.00 in a research report report published on Monday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts also recently commented on MGM. The Goldman Sachs Group initiated coverage on MGM Resorts International in a research report on Monday, July 7th. They set a “sell” rating and a $34.00 price objective for the company. Morgan Stanley boosted their price objective on MGM Resorts International from $41.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. JPMorgan Chase & Co. initiated coverage on MGM Resorts International in a research report on Monday, June 23rd. They set a “neutral” rating and a $38.00 price objective for the company. JMP Securities reissued a “market perform” rating on shares of MGM Resorts International in a research report on Thursday, June 26th. Finally, Citigroup raised MGM Resorts International from a “hold” rating to a “strong-buy” rating and boosted their price objective for the stock from $55.00 to $57.00 in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.56.

MGM Resorts International Stock Performance

NYSE MGM opened at $34.55 on Monday. The company has a market cap of $9.40 billion, a P/E ratio of 18.98, a P/E/G ratio of 1.51 and a beta of 1.69. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.22 and a quick ratio of 1.18. The stock has a 50-day moving average of $36.77 and a two-hundred day moving average of $33.82. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $42.53.

MGM Resorts International (NYSE:MGM) last released its earnings results on Wednesday, July 30th. The company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.21. MGM Resorts International had a return on equity of 19.39% and a net margin of 3.13%.The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same period in the previous year, the company posted $0.86 EPS. MGM Resorts International’s revenue was up 1.8% compared to the same quarter last year. As a group, analysts anticipate that MGM Resorts International will post 2.21 EPS for the current year.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 242,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $35.42, for a total transaction of $8,571,640.00. Following the completion of the sale, the director owned 5,385,478 shares in the company, valued at $190,753,630.76. This represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Mcmanus sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $36.12, for a total value of $2,167,200.00. Following the sale, the insider owned 31,521 shares of the company’s stock, valued at $1,138,538.52. This trade represents a 65.56% decrease in their position. The disclosure for this sale can be found here. 3.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MGM Resorts International

Large investors have recently modified their holdings of the stock. CYBER HORNET ETFs LLC purchased a new stake in shares of MGM Resorts International during the second quarter worth approximately $25,000. Mascagni Wealth Management Inc. acquired a new position in MGM Resorts International during the fourth quarter worth $28,000. Golden State Wealth Management LLC grew its holdings in MGM Resorts International by 83.5% during the first quarter. Golden State Wealth Management LLC now owns 1,000 shares of the company’s stock worth $30,000 after acquiring an additional 455 shares during the period. CX Institutional acquired a new position in MGM Resorts International during the first quarter worth $36,000. Finally, Bayforest Capital Ltd acquired a new position in MGM Resorts International during the first quarter worth $43,000. 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.