Mizuho Forecasts Strong Price Appreciation for MGM Resorts International (NYSE:MGM) Stock

MGM Resorts International (NYSE:MGM) had its price target boosted by equities researchers at Mizuho from $56.00 to $60.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 74.72% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Barclays increased their price target on shares of MGM Resorts International from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday. Jefferies Financial Group reduced their target price on MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. 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 report on Tuesday, October 22nd. Susquehanna Bancshares raised their price objective on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday. Finally, Capital One Financial boosted their target price on MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.94.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $34.34 on Thursday. The business has a fifty day moving average price of $34.25 and a two-hundred day moving average price of $36.81. The stock has a market capitalization of $10.22 billion, a PE ratio of 12.26, a P/E/G ratio of 2.94 and a beta of 2.20. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. MGM Resorts International has a fifty-two week low of $31.61 and a fifty-two week high of $48.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. As a group, equities analysts predict that MGM Resorts International will post 2.37 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MGM. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of MGM Resorts International by 0.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock worth $2,080,000 after acquiring an additional 309 shares during the last quarter. Ballentine Partners LLC raised its holdings in MGM Resorts International by 5.4% during the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company’s stock worth $227,000 after purchasing an additional 333 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of MGM Resorts International by 1.7% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock worth $684,000 after purchasing an additional 333 shares during the period. Global Retirement Partners LLC boosted its stake in shares of MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after purchasing an additional 404 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after buying an additional 411 shares during the period. 68.11% of the stock is 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.