Capital One Financial Increases MGM Resorts International (NYSE:MGM) Price Target to $56.00

MGM Resorts International (NYSE:MGM) had its price objective increased by Capital One Financial from $52.00 to $56.00 in a research note issued to investors on Wednesday. The brokerage currently has an “overweight” rating on the stock. Capital One Financial‘s price target would suggest a potential upside of 63.08% from the company’s previous close.

Several other research firms also recently commented on MGM. Wells Fargo & Company decreased their price objective on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Jefferies Financial Group decreased their price objective 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. Susquehanna Bancshares raised their target price on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday. Barclays cut their target price on MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, December 13th. Finally, Mizuho cut their target price on 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. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.44.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock traded up $0.07 during trading hours on Wednesday, reaching $34.34. The company had a trading volume of 6,879,822 shares, compared to its average volume of 4,712,910. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24. The business has a fifty day simple moving average of $34.31 and a 200 day simple moving average of $36.83. 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 has a market cap of $10.22 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 2.94 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last posted 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%. On average, 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 related news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 5,687,478 shares in the company, 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. Insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

Hedge funds have recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC raised its stake in MGM Resorts International by 58.5% during the 4th quarter. HighPoint Advisor Group LLC now owns 10,520 shares of the company’s stock valued at $361,000 after buying an additional 3,881 shares during the last quarter. Allianz SE purchased a new stake in MGM Resorts International during the 4th quarter valued at $1,166,000. Allstate Corp bought a new stake in shares of MGM Resorts International during the 4th quarter valued at $223,000. Pictet Asset Management Holding SA grew its position in shares of MGM Resorts International by 6.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 105,765 shares of the company’s stock valued at $3,665,000 after acquiring an additional 6,847 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its position in shares of MGM Resorts International by 1.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 73,758 shares of the company’s stock valued at $2,556,000 after acquiring an additional 909 shares during the period. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

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.