Mizuho Markets Cayman LP Buys New Position in MGM Resorts International $MGM

Mizuho Markets Cayman LP bought a new position in MGM Resorts International (NYSE:MGM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 210,525 shares of the company’s stock, valued at approximately $7,297,000. Mizuho Markets Cayman LP owned approximately 0.08% of MGM Resorts International as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MGM. CYBER HORNET ETFs LLC acquired a new position in shares of MGM Resorts International during the 2nd quarter valued at $25,000. Mendota Financial Group LLC bought a new stake in MGM Resorts International in the third quarter valued at $27,000. Mather Group LLC. bought a new stake in MGM Resorts International in the third quarter valued at $33,000. Employees Retirement System of Texas acquired a new position in shares of MGM Resorts International during the second quarter valued at about $45,000. Finally, Stance Capital LLC bought a new position in shares of MGM Resorts International during the 3rd quarter worth about $46,000. 68.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MGM shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MGM Resorts International in a research note on Monday, December 29th. Barclays set a $37.00 target price on MGM Resorts International in a research report on Friday, February 6th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. upped their price objective on shares of MGM Resorts International from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Friday, February 6th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $34.00 price objective on shares of MGM Resorts International in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, MGM Resorts International currently has an average rating of “Hold” and an average price target of $41.94.

MGM Resorts International Trading Up 2.6%

NYSE MGM opened at $36.90 on Wednesday. The company has a current ratio of 1.23, a quick ratio of 1.20 and a debt-to-equity ratio of 1.91. The business has a fifty day simple moving average of $35.33 and a 200 day simple moving average of $34.83. MGM Resorts International has a 12 month low of $25.30 and a 12 month high of $40.16. The firm has a market capitalization of $9.44 billion, a P/E ratio of 49.20 and a beta of 1.38.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.96. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. The firm had revenue of $4.61 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the prior year, the business posted $0.45 EPS. On average, analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 37,500 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $34.27, for a total value of $1,285,125.00. Following the completion of the sale, the director directly owned 5,347,978 shares of the company’s stock, valued at approximately $183,275,206.06. This represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.06% of the company’s stock.

MGM Resorts International Company Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.