Mizuho Has Lowered Expectations for MGM Resorts International (NYSE:MGM) Stock Price

MGM Resorts International (NYSE:MGM) had its price target decreased by analysts at Mizuho from $57.00 to $56.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 50.66% from the stock’s previous close.

MGM has been the topic of several other reports. Barclays reduced their price target on MGM Resorts International from $56.00 to $54.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Susquehanna raised their price target on shares of MGM Resorts International from $54.00 to $55.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Morgan Stanley boosted their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company dropped their target price on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, October 17th. Finally, Macquarie lowered their price target on MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.62.

MGM Resorts International Price Performance

MGM stock traded down $4.24 during trading on Thursday, hitting $37.17. 4,143,736 shares of the company’s stock traded hands, compared to its average volume of 4,059,065. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.42 and a current ratio of 1.47. The business has a fifty day simple moving average of $38.46 and a 200 day simple moving average of $40.23. The stock has a market capitalization of $11.29 billion, a price-to-earnings ratio of 14.65, a P/E/G ratio of 0.97 and a beta of 2.23.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The firm had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the prior year, the company posted $0.64 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. As a group, research analysts expect that MGM Resorts International will post 2.54 EPS for the current fiscal year.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 121,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total value of $4,443,120.00. Following the sale, the director now directly owns 5,738,478 shares in the company, valued at approximately $210,716,912.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Paul J. Salem purchased 147,500 shares of MGM Resorts International stock in a transaction on Monday, August 5th. The shares were bought at an average price of $33.80 per share, with a total value of $4,985,500.00. Following the transaction, the director now directly owns 1,702,500 shares of the company’s stock, valued at approximately $57,544,500. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith A. Meister sold 121,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $36.72, for a total value of $4,443,120.00. Following the transaction, the director now directly owns 5,738,478 shares of the company’s stock, valued at approximately $210,716,912.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 216,400 shares of company stock valued at $7,312,197. Corporate insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Goldentree Asset Management LP acquired a new stake in shares of MGM Resorts International in the 1st quarter valued at $35,726,000. Marshall Wace LLP boosted its position in shares of MGM Resorts International by 174.8% during the 2nd quarter. Marshall Wace LLP now owns 1,110,040 shares of the company’s stock worth $49,330,000 after acquiring an additional 706,159 shares in the last quarter. Boston Partners raised its position in shares of MGM Resorts International by 12.6% during the 1st quarter. Boston Partners now owns 6,111,930 shares of the company’s stock worth $286,933,000 after acquiring an additional 684,676 shares in the last quarter. LSV Asset Management acquired a new position in MGM Resorts International in the second quarter valued at approximately $21,149,000. Finally, Shellback Capital LP increased its stake in MGM Resorts International by 433.3% in the second quarter. Shellback Capital LP now owns 400,000 shares of the company’s stock valued at $17,776,000 after purchasing an additional 325,000 shares during the last quarter. Hedge funds and other institutional investors 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.