Capital One Financial Issues Positive Forecast for MGM Resorts International (NYSE:MGM) Stock Price

MGM Resorts International (NYSE:MGM) had its price target increased by equities researchers at Capital One Financial from $52.00 to $56.00 in a report released on Wednesday. The brokerage currently has an “overweight” rating on the stock. Capital One Financial‘s target price would indicate a potential upside of 63.08% from the stock’s current price.

Several other brokerages have also commented on MGM. Mizuho dropped their price target on shares of MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company dropped their price target 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. Truist Financial lowered their price objective on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Susquehanna Bancshares raised their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday. Finally, Jefferies Financial Group lowered their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.44.

MGM Resorts International Stock Up 0.2 %

NYSE MGM traded up $0.07 during trading hours on Wednesday, hitting $34.34. The company had a trading volume of 6,879,822 shares, compared to its average volume of 4,712,910. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The firm’s 50 day moving average is $34.31 and its 200 day moving average is $36.83. The company has a market capitalization of $10.22 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 2.94 and a beta of 2.20. 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 the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. Sell-side analysts anticipate that MGM Resorts International will post 2.37 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MGM Resorts International

Institutional investors have recently modified their holdings of the business. CWM LLC grew its position in shares of MGM Resorts International by 8.4% in the 3rd quarter. CWM LLC now owns 10,984 shares of the company’s stock valued at $429,000 after buying an additional 854 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in MGM Resorts International by 540.5% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,607 shares of the company’s stock worth $102,000 after buying an additional 2,200 shares during the period. Creative Planning raised its stake in shares of MGM Resorts International by 8.4% in the third quarter. Creative Planning now owns 77,682 shares of the company’s stock worth $3,037,000 after purchasing an additional 6,040 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of MGM Resorts International by 37.9% in the third quarter. Vontobel Holding Ltd. now owns 20,426 shares of the company’s stock worth $798,000 after purchasing an additional 5,611 shares during the last quarter. Finally, nVerses Capital LLC raised its stake in shares of MGM Resorts International by 233.3% in the third quarter. nVerses Capital LLC now owns 21,000 shares of the company’s stock worth $821,000 after purchasing an additional 14,700 shares during the last quarter. 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.